French oil major, Total, has started production of Zinia Phase 2 on Block 17, offshore Angola. Located approximately 150 km from the coast of Angola, Total’s Zinia Phase 2 project is connected to the Pazflor floating production storage and offloading (FPSO) facility and will tap into a resource of 65 million barrels of oil. The project involves the drilling of nine wells, which is estimated to reach production of 40,000 barrels of oil per day (bpd) by mid-2022.

Total stated on Thursday that development of the project was implemented on schedule and that capital expenditure was more than 10% below budget. The company estimates that this represents savings of $150 million.

“The successful start-up of this project, despite challenges that have arisen as a result of the pandemic, demonstrates Total’s commitment to ensure sustainable output in Block 17,” Total Africa Exploration and Production President Nicolas Terraz said. “Zinia Phase 2 reflects the quality of short cycle projects in Angola with high return on investment.”

Click on the link below for full report

Source: AfricaOilandPower