Angola brings new deepwater project online
Production at Zinia Phase 2 comes after years of upstream stagnation
Angola’s Zinia Phase 2 field has started production and is expected to reach 40,000bl/d oe by mid-2022. The project is a brownfield, short-cycle oil development in the wider block 17, which is operated by France’s Total with a 38pc stake. The other shareholders are Norway’s Equinor (22.16pc), ExxonMobil (19pc), BP (15.84pc) and NOC Sonangol (5pc). Zinia Phase 2 connects to the existing Pazflor FPSO and was developed on schedule and 10pc below budget, resulting in a saving of $150mn, even amid pandemic disruption. Total’s decision to proceed on the project in 2018 marked Angola’s first deepwater FID in four years and came as the country began reforms intended to revive its stalled upstream
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields