The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated on Tuesday in Luanda that the oil exploration project, named Begonia, will help mitigate the decline in crude oil production in the country.
In statements to the press following the ceremony marking Phase 3 of the project, which became operational last July, the minister said that Begonia will provide incentives for partners operating in Blocks 17 and 17/06.
“This is a clear example for everyone who wants to invest in Angola. The country continues to be a destination for oil exploration. We are open to welcoming all those willing to invest in Angola,” he emphasized.
The Begonia Project is operated by TotalEnergies, which holds a 30% interest, in association with national companies Sonangol EP with 30%, SSI with 27.5%, ETU Energias with 7.5%, and Falcon Oil with 5%.
Located 150 kilometers off the Angolan coast, it represents the first subsea development between blocks in Angola, specifically Blocks 17 and 17/06, at water depths between 800 and 1,200 meters, with five subsea wells connected to the existing FPSO Pazflor subsea facilities.
Begonia will add 30,000 barrels per day to the FPSO Pazflor’s oil production, with a total investment cost of 850 million dollars.
On the other hand, the General Manager of TotalEnergies Angola, Martin Deffontaines, highlighted the project’s innovation as the first in Angola to be developed between blocks.
“It demonstrates our ability to unite and find innovative solutions for the benefit of all parties,” he clarified.
“We will produce oil from one block using the existing facilities of another. This was only possible thanks to the cooperation of the national concessionaire, the National Oil, Gas and Biofuels Agency, the partners, and because TotalEnergies is the operator of both blocks: 17 and 17/06,” he said.
According to him, the project brings low-cost reserves with low emissions.
Production
The country has experienced significant declines in oil production.
Over the past seven months, daily crude oil production was 1.023 million barrels per day, according to Jornal Expansão, citing the National Oil and Gas Agency as the source.
The 2025 State Budget Justification Report projected a daily production of 1.098 million barrels, but constraints linked to low exploration investment have caused the country to produce 74,700 barrels less per day.
Source: Angop
