French oil giant Total has decided to sanction the £900 million Zinia 2 project off Angola.
The field will produce up to 40,000 barrels per day.
The project comprises nine wells tied back to the Pazflor FPSO.
Zinia 2 is the first of several possible short-cycle developments on Block 17, whose full potential will be unlocked by connecting satellite reservoirs to the existing FPSO.
Arnaud Breuillac, president of Total Exploration and Production, said: “Zinia 2 opens a new chapter in the history of Block 17. This project will allow to extend the profitability of this prolific block, with over 2.6 billion barrels already produced.
“Thanks to the favorable fiscal framework introduced by the Angolan authorities for satellite developments, other projects similar to Zinia 2 are currently under consideration on Block 17.
“The project is also a good example of capex discipline and cost optimization: the work carried out to simplify the design while capturing deflation allowed the partners to cut the development costs by more than a half.”
Total operates the Block 17 with a 40% interest, alongside affiliates of Equinor (23.33%), Exxon Mobil (20%), and BP (16.67%). Sonangol, is concessionaire. It has four FPSOs — Girassol, Dalia, Pazflor and CLOV. In 2017, its production averaged 600,000 b/d.
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