Total, along with its joint venture partners, has taken the final investment decision to develop the ultra-deep offshore Kaombo project in Angola.
Kaombo holds estimated reserves of around 650 million barrels, with a production capacity of about 230,000 barrels per day.
According to Total the project is expected to be operational in 2017.
The Kaombo project will develop six of the 12 discoveries, which is located around 260km offshore Luanda in water depths ranging from 1,400m to 1,900m.
Connected through about 300km of subsea lines, to two floating production, storage and offloading (FPSO) vessels, each with a production capacity of 115,000 barrels per day, the Kaombo development scheme includes 59 subsea wells.
Total Upstream president Yves-Louis Darricarrère said that Kaombo illustrates both the group’s capital discipline and objective to reduce capex.
"With the launch of Kaombo, the upcoming start-up of CLOV and three exploration wells planned in the Kwanza basin this year, Angola remains a priority country for Total" outlined Yves-Louis Darricarrère, President Total Upstream," Darricarrère added.