TotalEnergies and its partners will invest $10 billion in Angola over the next five years. CEO Patrick Pouyanne announced the commitment at an industry conference in Luanda. The investment aims to maintain current output levels for the country’s largest operator. TotalEnergies currently produces approximately 450,000 barrels per day in the region.
Funding will support the Kaminho project, which is expected to begin production in 2028. The company also signed two new offshore exploration licenses in partnership with Exxon Mobil.
TotalEnergies will launch an artificial intelligence initiative to analyze geological data. This technology will identify new drilling opportunities across Angola's offshore basins.