Page 7 - AfrOil Week 44 2022

AfrOil INVESTMENT AfrOil

“This year, we have allocated $3bn for specific oil
projects in the Kwanza River Basin, such as the
Begónia exploration project and others for the
expansion of Block 17,” the CEO of TotalEner-
gies, Patrick Pouyanné, said after a meeting with
the President of the Republic, João Lourenço,
writes Macao News.
Located 150 km off the Angolan coast in
water depths ranging from 600 to 1,400 metres,
Block 17 has been a true success story, with four
floating production, storage and offloading
(FPSO) units operated by TotalEnergies and its
partners Equinor, ExxonMobil and BP.
According to Pouyanné, starting in 2023,
TotalEnergies plans to launch new projects.
Deep Waters, Cameia and Dolphin projects
are already being planned in the Kwanza River
Basin.
“We are working with the Angolan authori-
ties and if we reach a mutually beneficial under-
standing, we would like to see these projects in
operation by the middle of next year,” Pouyanné
said, as quoted by Macao News. He also revealed
the company’s intention to explore a total of
seven blocks in the same basin. TotalEnergies has stakes in multiple blocks offshore Angola (Image: TotalEnergies)
Pouyanné also said he had had discussions
with the president about the possibility of his will generate 35 MW for the national grid.
company supplying solar energy to the Angolan “In Angola, we are not only focused on the
mining industry, with a view to reducing costs traditional oil and gas sector, but also on renew-
in the latter sector. able energies,” said Pouyanné. He stated that
According to Macao News, an agreement TotalEnergies is planning a $100mn addition of
signed in 2021 resulted in the creation of the another8 MW to the Huíla Solar Park, according
Huíla Solar Park, in the province of Huíla, which to Macao News. ™

PERFORMANCE
NNPCL chief sees Nigeria’s oil production

rates reaching 1.8mn bpd by year’s end

NIGERIA NIGERIA is on track to see oil production rise
to 1.8mn barrels per day (bpd), nearly double
the level reported for September, by the end of
2022, according to Mele Kyari, the group CEO
of state-owned Nigerian National Petroleum Co.
Ltd (NNPCL).
On November 2, Kyari said he expected
output to reach that level by late December but
that the oil industry might perform even better
than anticipated. Nigeria is currently extracting
1.45mn bpd of oil and could push yields up to
1.8mn bpd by the “end of December, but hope-
fully by the end of November,” Argus Media
quoted him as saying. NNPCL group CEO Kyari (Photo: Twitter/@MKKyari)
He also stated that production levels were
expected to continue rising beyond the end of If Nigeria is successful in its efforts to bring
2022. NNPC managers believe output could output up, he continued, it may start discussions
climb to 2.2mn bpd “any time from the middle with OPEC on adjusting the baseline figures that
of next year,” Kyari said. the cartel uses to set its production quotas.

Week 44 03•November•2022 www. NEWSBASE .com P7