Continental Focus, International Reach

Total and Sonangol Sign Several Agreements

Wednesday, December 6, 2017

The CEO of Total, Patrick Pouyanné, met with the president of Angola,João Lourençoand the newly appointed chairman of SonangolCarlos Saturnino. During the meeting Total and Sonangol signed several agreements covering both upstream and downstream activities.

The agreements that resulted from the meeting included the 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 FID. Located in Block 17 and operated by Total (40%), Zinia 2 will be connected to the Pazflor FPSO and will produce 40,000 bpd.

Also signed was an agreement that has the two companies jointly exploring 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 on Block 48.

In addition, the two firms signed a MoU to jointlydevelop a retail network in the country including logistics and the supply of oil products.

There was also a MoU signed that revolves around the development of renewable energy. Both companies signed an MoU providing for them to jointly screen opportunities for renewable energy supply in Angola.

“As Angola’s main oil partner, we are pleased with the strong willingness expressed by the country’s new authorities to drive an investment dynamic in the oil and gas sector, essential to the country’s economy, after three years impacted by the sharp drop in prices. Today’s agreements demonstrate Total’s willingness to contribute to this dynamic by restarting exploration offshore in Angola, launching new projects such as Zinia 2 on Block 17, and extending our cooperation with Sonangol to new businesses in oil product distribution and renewable energy,” said Pouyanné. “In particular, Total is making all necessary efforts to ensure a start-up as soon as possible during summer 2018 for the Kaombo project, currently the most significant investment in the country.”