Listen to RFI News
Expand Player
 
Listen Download Podcast
  • Paris Live PM 1300 - 1400 GMT
    News bulletin 09/18 13h00 GMT
  • Paris Live PM 1300 - 1400 GMT
    News bulletin 09/17 13h00 GMT
  • Paris Live PM 1300 - 1400 GMT
    News bulletin 09/16 13h00 GMT
  • 13h00 - 14h00 GMT
    News bulletin 04/05 13h00 GMT
  • 13h00 - 14h00 GMT
    News bulletin 04/04 13h00 GMT
  • 13h00 - 14h00 GMT
    News bulletin 04/03 13h00 GMT
To take full advantage of multimedia content, you must have the Flash plugin installed in your browser. To connect, you need to enable cookies in your browser settings. For an optimal navigation, the RFI site is compatible with the following browsers: Internet Explorer 8 and above, Firefox 10 and +, Safari 3+, Chrome 17 and + etc.
Africa

Total to invest in Angola's ultra-deep Kaombo oilfield

media The Angolan capital, Luanda Opan access/Fabio Vanin

French oil giant Total is to invest in Angola's Kaombo project after finding ways to cut costs of extracting ultra-deep offshore oil by a fifth, the firm announced on Monday.

Total and its partners have worked out how to slash 2.9 billion euros off the capital cost of Kaombo, reducing it to 11.5 billion euros and production is to begin in 2017, a company statement said.

The field, which is about 260 kilometres offshore where the water is 1,400-1,900 metres deep, has estimated reserves of 650 million barrels and should produce 230,000 barrels per day, Total said.

The company is set to start producing oil at the Cravo, Lirio, Orquidea and Violeta field and has three exploration wells planned in the Kwanza basin this year and claims to already be "the country's leading
oil operator".

It promises local involvement in the projects.

"Over 14 million man-hours of fabrication and construction works [for Kaombo] will be performed locally in Angolan yards which will be used for equipment fabrication and assembly," Total's statement said.
 

Related
 
Sorry but the period of time connection to the operation is exceeded.