Tuesday, June 15, 2021

    Energy group Total starts production at Angolan oil project

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    Naija247news, Nigeriahttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    French energy group Total (TOTF.PA) has started production at its Angolan Zinia Phase 2 project, which has estimated resources of 65 million barrels of oil, it said on Thursday.

    Total added that the development of the project was carried out according to schedule and for capital expenditure more than 10% below budget, representing a saving of $150 million.

    The project includes the drilling of nine wells and is expected to reach production of 40,000 barrels of oil per day by mid-2022, Total said.

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