France’s Total inaugurates floating unit in Angola

5 December 2014

French oil group Total Thursday in Angola inaugurated its floating oil storage, production and offloading unit (FPSO) for the CLOV project (Cravo, Lirio, Orquidea and Violeta), according to the Angolan and international press.

Located between 150-270 kilometres off the coast of Angola, CLOV is an investment of about US$9 billion, which went into production in July this year and has 34 undersea wells with maximum production of 160,000 barrels of oil per day.

The CLOV project, which covers an area of ​​380 square kilometres, has estimated reserves of 505 million barrels of oil and a 20-year life cycle.

“Total has three strengths – ultra-deep water, liquefied natural gas and Africa,” said the new president of the group, Patrick Pouyanne, adding that Total is the largest oil producer in the continent and in Angola.

Pouyanne, who replaces Christophe de Margerie, who died recently in a plane crash in Moscow, said that despite the recent volatility in oil prices, the group has a long-term vision alongside preciously announced projects, such as Kaombo in Angola. (macauhub/AO)