TotalEnergies and its partners have reached the final investment decision (FID) on the Kaminho deepwater project in Block 20/11 to develop the Cameia and Golfinho fields off the coast of Angola.

The French oil and gas company’s partners in Block 20/11 are Petronas Angola E&P and Sonangol Pesquisa & Produção with stakes of 40% and 20%, respectively. The remaining 40% interest is owned by TotalEnergies’ subsidiary TotalEnergies E&P Angola Block 20, which is the operator of the concession.

Located 100km off the coast, and in a water depth of 1,700m, the Kaminho project is said to be the first large deepwater development in the Kwanza basin.

The deepwater project involves the conversion of a very large crude carrier (VLCC) to a floating production storage and offloading (FPSO) unit, which will be linked to a subsea production network.

Angola Minister of Mineral Resources, Oil & Gas Diamantino de Azevedo said: “This partnership is for us of extreme importance, as it creates a joint operating entity between Sonangol and TotalEnergies in production phase.

“It is also relevant that the contracts signed today include national companies and contribute to local content with more than 10 million hours of work to be performed by local companies”.

According to TotalEnergies, the all-electric FPSO will reduce greenhouse gas emissions and eliminate routine flaring. Associated gas will be reinjected fully into the reservoirs, said the company.

The production at the Kaminho deepwater project is slated to commence in 2028, with an expected peak production of 70,000 barrels of oil per day (bopd).

The offshore oil project would involve more than 10 million man-hours in Angola. This will be primarily for offshore operations and construction at local yards.

TotalEnergies chairman and CEO Patrick Pouyanné said: “Building on our pioneering spirit and our long-term partnership with Angola, we are pleased to launch the Kaminho project along with our strategic partners, Sonangol and Petronas, and the strong support and confidence of the Angolan authorities.

“This project, which leverages innovation to fit with our investment criteria – breakeven under 30 $/b and carbon intensity of 16 kg CO2e/boe – will become our seventh FPSO in the country and the first-ever development in the Kwanza basin.”

Separately, TotalEnergies has awarded three new contracts worth $3.7bn to Saipem pertaining to the Kaminho project.

Under the first contract, Saipem will deliver the engineering, procurement, construction, transportation, and commissioning of the Kaminho FPSO vessel.

The second contract covers the operation and maintenance (O&M) of the same FPSO vessel for a firm period of 12 years. It can also be extended by an additional eight years.

Saipem’s scope for the third contract encompasses the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of a subsea, umbilicals, risers, and flowlines (SURF) package.