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Share Name Share Symbol Market Type
TotalEnergies SE EU:TTE Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.04 -1.77% 57.72 57.50 57.78 58.01 56.90 57.59 7,256,100 16:40:00

TotalEnergies Starts Three Projects in Angola

28/07/2022 3:05pm

Dow Jones News


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By Giulia Petroni

 

TotalEnergies SE on Thursday said that it has started one oil and one gas field developments as well as a photovoltaic project in Angola.

The French major said the Begonia oil field, located 150 kilometers off the coast, is the first development of block 17/06 and represents an investment of $850 million. Commissioning is expected in late 2024.

The company also made a final investment decision for the Quiluma and Maboqueiro gas fields developments, which are set to supply liquefied natural gas to the country. Production is set to start in mid-2026. TotalEnergies holds a 11.8% interest in the project, alongside Eni SpA, Chevron Corp., Sonangol P&P and BP PLC.

In addition, TotalEnergies was also awarded the concession for the construction of the Quilemba photovoltaic plant by the Angolan authorities.

The plant will have an initial capacity of 35 megawatts peak and the possibility of adding 45 MWp in a second phase. It should come on stream at the end of next year.

TotalEnergies holds an 51% interest in Quilemba solar, alongside Sonangol EP and Greentech Angola Environment Technology.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

July 28, 2022 09:50 ET (13:50 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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