The French heavyweight TotalEnergies is betting more than ever on hydrocarbons (given what they are currently earning “thanks” to Donald Trump’s war) and on diversifying supply sources in the face of the double blockade – Iranian and American – that is choking the Strait of Hormuz (and it is far from over). Angola, the second-largest crude oil producer in Sub-Saharan Africa, has been on the loose since leaving OPEC (Organization of the Petroleum Exporting Countries) and its onerous production quotas. TotalEnergies and Luanda will do business, and it’s big stuff.
The French company plans to inject, with its partners, around 10 billion dollars into Angola by 2031 to boost oil production and offshore exploration. The information was delivered on September 9, 2026 in Luanda by the group’s chief executive, Patrick Pouyanné. It was during a conference dedicated to the Angolan oil sector. As the leading oil operator in Angola, the French giant currently produces nearly 450,000 barrels of oil per day in the country.
Kaminho is at the heart of this mega project, with a deep-water unit whose financing is estimated at $6 billion. TotalEnergies owns 40% of the shares, Malaysian Petronas 40%, and the national company Sonangol 20%.
