Energy giants Eni, Total, BP, CABGOC and Angola's Sonangol to start a new gas consortium

Italian hydrocarbon giant ENI, France's TotalEnergies, Britain's BP, CABGOC, a subsidiary of U.S. Chevron, and Angola's state-owned Sonangol have agreed to invest in a consortium to develop the Quiluma and Maboqueiro (Q&M) gas fields in Angola, which are expected to eventually produce 4 billion cubic meters per year by 2026.

"Eni and its Partners in the New Gas Consortium (NGC), Chevron’s affiliate in Angola Cabinda Gulf Oil Company Limited (CABGOC), Sonangol P&P, bp and TotalEnergies, together with Angola’s National Agency for Oil, Gas and Biofuels ANPG", have taken the "Final Investment Decision (FID) for the development of the Quiluma and Maboqueiro (Q&M) fields", the Italian giant said in a statement Wednesday.

The project includes "two offshore wellhead platforms" off the northwest coast of Angolan " an onshore gas processing plant" as well as "a connection to Angola LNG plant for the marketing of condensates and gas via LNG cargoes". Operations are due to start in 2022, with a planned production launch in 2026. Production is estimated at around 4 billion m3 per year.

The consortium is controlled by ENI, which has been present in Angola since 1980, with 25.6%, Chevron CABGOC (31%), Sonangol P&P (19.8%), BP (11.8%) and TotalEnergies (11.8%).