TotalEnergies, a French major energy company, has announced a new oil discovery in Angola and signed agreements to acquire a 40 percent operating interest in two exploration blocks in the country.
The Acacia-5 discovery, located in Block 17, is expected to add 6,000 barrels per day to the company’s production, TotalEnergies said in a statement on Thursday.
The company said it plans to fast-track development of the discovery, with first oil expected within three months of the discovery made in June 2026.
The discovery comes as the company seeks to sustain and grow its oil production in Angola, one of its key upstream markets in Africa. Block 17, operated by the French company, is one of the country’s major producing assets. Related News U20 Women’s World Cup: Falconets battle China to goalless draw Anthony Joshua car crash trial gets new date Dangote Refinery IPO wins backing to democratise Africa's industrial wealth
TotalEnergies has also signed agreements with Angola’s petroleum regulator, Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), to enter exploration Blocks 17/25 and 32/21 in the Lower Congo Basin.
