TOTAL AND SONANGOL TO DEVELOP NEW PROJECTS IN ANGOLA

December 05, 2017

Patrick Pouyanné, Chairman and CEO of Total, had an audience today with Joao Lourenço, recently elected President of the Republic of Angola, and with Carlos Saturnino, new Chairman of Sonangol, the national oil company. On this occasion, Total and Sonangol signed several agreements covering both upstream and downstream activities.

• Zinia Phase 2 project development
Total and Sonangol agreed on the contractual conditions for the development of Zinia Phase 2, enabling a commitment to the final investment decision. Located in Block 17 and operated by Total (40%), Zinia 2 will be connected to the Pazflor FPSO and will produce 40,000 barrels per day.

• Entry on block 48
Total and Sonangol have decided to jointly explore Block 48. This agreement contributes to restarting deep offshore exploration in Angola. The first phase of this program will last for two years with the drilling of one exploration well.

• Extension of cooperation
Distribution of oil products
Total and Sonangol signed a Memorandum of Understanding (MoU) to develop jointly a retail network in the country including logistics and the supply of oil products.
Renewable energy
Both companies signed an MoU providing for them to screen jointly opportunities for renewable energy supply in Angola.

Total operates Block 17 with a 40% interest alongside Statoil (23.33%), Esso Exploration Angola Block 17 Ltd (20%) and BP Exploration Angola Ltd (16.67%). Sonangol is the concessionaire of the license. The four FPSO units operated by the Group are located on the major production areas of the block, Girassol, Dalia, Pazflor and CLOV.
Total also operates the deep offshore Kaombo development, located on Block 32, with a 30% interest. The final investment decision was made in April 2014 to develop Kaombo’s estimated reserves of 650 million barrels via two converted FPSOs with a total production capacity of 230,000 barrels per day. (Source: Total)