Closing In On Top Africa Producer Spot


BMI View: O ver our forecast period new projects in Angola will drive oil production levels to challenge Africa's top producer , Nigeria , as Angola's oil industry is becoming an increasingly attractive investment destination . Total's decision to invest in the 200,000b/d ultra-deepwater Kaombo project supports our view that oil production growth from Angola will outperform that of Nigeria.

French major Total has reportedly taken the final investment decision (FID) on its Kaombo oil project in ultra-deepwater Angola. The 200,000 barrel per day (b/d) capacity development will be a key project in Angola's oil production growth profile over the coming 10 years, and will help it challenge Nigeria as Africa's top oil producer before the end of our forecast.

The Kaombo project will be a technically challenging development due to its location in waters 1,500 metres to 2,000 metres deep. The project also requires the linking two oil field clusters within the confines of Block 32, tying each one back to one of two floating storage production and offloading (FPSO) vessels. Under the current development plans, the North FPSO will receive oil from 35 wells, while the South FPSO will be connected to 29 wells. A subsea gas pipeline will be installed linking Block 32 with the liquefied natural gas (LNG) plant at Soyo.

Angola Taking The Lead
Nigeria and Angola Oil Production and Net Exports (000b/d)

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This article is tagged to:
Sector: Oil & Gas
Geography: Angola, Nigeria

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