Angola and Total collaboratively inaugurated a new deep-sea oil field in Angola worth $16 Billion.
This new deep-sea field is expected to boost the production of the African Nation positively.
The field is located 250 km off the capital Luanda, and the Kaombo project is the largest offshore operation ever launched in Angola.
It is estimated to produce 230,000 barrels of oil per day on a plateau basis and it is expected to enable Total to maintain world production of 600,000 barrels per day by 2023.
Kaombo Norte, first of the two ships produced its first oil last July while Kaombo Sul is expected to produce by mid-2019.
They are expected to produce 230,000 barrels of oil a day.
