Production

Angola: Sonangol, Total set to begin deepwater project

Monday, 02 November 2015 16:22

Sonangol and a unit of Total are to start digging on a new deepwater oil pumping project that is to boost Angola’s oil production to over 30,000 bpd, Reuters report.

According to the state owned company, the project, which is part of the offshore Rosa oil production field north of Luanda, entails four multi-phase high-pressure pumps installed close to the bottom of sea as well as linking up with an existing subsea network for pumping crude.

"These pumps allow recovery of about 42 million barrels of additional reserves. The project involves Total's Angola unit which operates Angola Block 17," Sonangol said in a statement.

Furthermore, the additional pumping capacity will be an increase for Angola who has suffered as a result of a sharp decline in oil prices since mid-2014.

Crude oil output represents 40 % of the country’s gross domestic product (GDP) and over 95 % of its export revenue.

Last month, President Jose Eduardo dos Santos appointed a government team to help reorganize the oil sector, including Sonangol, although details of the plan were not given.

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