French supermajor Total is forging ahead with a major new deep-water project offshore Angola that is destined to be on stream in 2024, producing up to 100,000 barrels per day of oil from a floating production, storage and offloading vessel.
If the project proceeds, it will offer vital succour to Angola's beleaguered upstream sector and President Joao Lourenco's government, which has tried hard to create the right conditions for incumbent operators to invest in major new projects to head off an impending collapse in oil production.
