Total Energies to invest $10B in Angola

French energy company Total Energies has announced that it will invest $10 billion with its partners in Angola over the next five years to support oil production. This move aims to maintain current production levels, which stand at approximately 450,000 barrels per day, with the country's goal of keeping output around one million barrels daily. These investments are part of the Angolan government's efforts to attract more investments in the oil and gas sector to offset the decline in production from old fields. Recently, Total signed two new exploration licenses and launched initiatives to support drilling operations using artificial intelligence. The oil sector is the backbone of Angola's economy, which faces an annual production decline of about 15%. The government is seeking to halt this decline by boosting investments.

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