9 March 2017

Angola: Usa - Total President Stresses Confidence in Angolan Market

Houston — The president of French oil company Total, Patrick Pouyanné, Tuesday in Houston (Texas), expressed confidence in the strength and robustness of the Angolan market.

Patrick Pouyanné made these references to the press at the end of a meeting between delegations of Angolan oil company Sonangol, led by its chairperson of the Board of Directors, Isabel dos Santos, and France's Total, on the fringes of Ceraweek, which is one of the major experts meetings of the sector.

He said that this was one of the aspects addressed at the meeting, noting that Angola is a good market for oil production and highlighted the fact that the company has been working in the Angolan market for some time.

In this regard, he mentioned the projects developed in Angola, with emphasis on the Kaombo, developed in ultra-deep waters in Block 32, whose investments are around US $ 15 billion.

"We discussed the progress in the blocks and production", having also highlighted the work being done by the national oil company, aimed at reducing production costs.

In this regard, he reaffirmed that Total's investments will continue, having in the meeting also addressed additional projects.

Regarding the current market momentum, Total official highlighted the fact that people are optimistic about their progress, despite the volatility of prices in recent years.

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