TotalEnergies has announced plans to invest $10 billion in Angola over the next five years, together with its partners, as the company works to maintain and expand oil production in the country.
The announcement was made by TotalEnergies CEO Patrick Pouyanné during an oil conference in Luanda.
TotalEnergies currently produces about 450,000 barrels of oil per day in Angola and is working with the country to maintain overall production at around one million barrels per day.
One of the company’s major projects is the $6 billion Kaminho development, located about 100 kilometres offshore in Angola’s Kwanza Basin. Production from the project is expected to begin in 2028.
The company has also announced a new oil discovery called Acacia-5, which is expected to add about 6,000 barrels per day to production from Block 17. TotalEnergies says the discovery could begin production within three months of its June 2026 discovery.
In addition, TotalEnergies has agreed to take a 40% operated interest in two new exploration blocks, Block 17/25 and Block 32/21, as it searches for more oil resources in Angola.
The investment is expected to strengthen Angola’s position as a major oil-producing country while supporting TotalEnergies’ long-term operations in Africa.
