French oil company Total Energies said today in Luanda that it spends about USD 2 billion per year on investment and operation in Angola on blocks 17 and 33.
The figures were provided by Total Angola’s managing director, Olivier Jouny, at the “Business expedition Oil & Gas 2022” forum, an event organised by French company Evolen, in partnership with the support of France-Angola Business – commercial section of the French Embassy in Angola.
At the business event, which is being attended by the biggest players in the oil and gas sector in Angola and French companies, Mr. Jouny said that investments were expected soon in new blocks, notably blocks 20 and 21 in the Kwanza basin.
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He noted that Total Energies owned almost 45 percent of national oil production and that several projects were underway for new investments.
Mr. Jouny also said that as well as gas and oil, in this forum they were also talking about energy transition and all the projects to reduce greenhouse gas and the new strategy to expand the oil sector with renewable energy.