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Valued at $6 billion, the “Kaminho” project of block 20/11 stems from an agreement signed between the National Agency for Petroleum, Gas and Biofuels (ANPG), TotalEnergies, Sonangol, and Petronas.
The Angolan oil sector was bolstered this Monday, April 20, with the “Kaminho” project of block 20/11, valued at $6 billion. The project’s production is expected to commence between 2028 and 2030.
This enhancement results from the signing of an agreement between the ANPG, TotalEnergies, and the block 20/11 Contractor Group partners (Sonangol and Petronas) concerning the Final Investment Decision (FID) of the Cameia and Golfinho fields, located 100 kilometers off the coast of Luanda.
Following the agreement signing, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, noted that the project’s oil reserves are estimated at about 400 million barrels, with a production plateau expected at 70,000 barrels per day.
“This project marks the opening of a new oil province in the offshore Kwanza Basin, whose significant volume of reserves could contribute to the sustainability of the national oil production in the medium term and generate additional revenues for the Angolan state,” he stated.
He further detailed that the production facilities would be designed to minimize greenhouse gas emissions, allow for total re-injection of associated gas into the reservoirs, and eliminate routine gas flaring, thereby contributing to the decarbonization of oil operations. This approach is intended to be adopted as a standard for future development projects.
Diamantino Azevedo expressed satisfaction that the project includes participation from local content companies, with approximately 11 million work hours planned, mainly in offshore operations and construction at local logistics bases and shipyards.
“This aligns with the government’s commitment to developing local content in the oil sector,” he emphasized.
The launch of Projecto Kaminho comes at a critical time for the global oil and gas industry, particularly for the Angolan oil industry, considering the paradigm shift in the use of fossil fuels to clean energy sources, a phenomenon globally termed as the energy transition.
