Tip: Try a valid symbol or a specific company name for relevant results A pro-grade research workspace with advanced charts, company data and real-time news. Now part of Yahoo Finance Gold.Learn more TotalEnergies (TTE) Sees Long-Term Potential in Angola’s Offshore Oil The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading.
Coinbase pays us for certain activity generated through this link. Prices displayed are informational. TotalEnergies SE (NYSE:TTE) plans to invest $10 billion alongside its partners in Angola over the next five years, with the goal of maintaining and potentially increasing its oil production in the country.
TotalEnergies currently produces around 450,000 barrels per day in Angola, making it the country's largest oil operator and accounting for more than 40% of its total output. The investment will go toward existing operations, new exploration, and projects aimed at replacing production from Angola's aging offshore fields. One of the biggest projects in the pipeline is the $6 billion Kaminho development, which is expected to start producing oil in 2028.
TotalEnergies SE (NYSE:TTE) is also expanding its exploration efforts after signing agreements for two additional offshore blocks. On top of that, the company recently announced a new discovery in Block 17 that could add roughly 6,000 barrels per day to production. TotalEnergies (TTE) Sees Long-Term Potential in Angola’s Offshore Oil **TotalEnergies Could Turn Angola Spending Into Production Growth** The investment strengthens TotalEnergies SE (NYSE:TTE)'s position in one of Africa's key oil-producing markets and, perhaps more importantly, helps protect a major source of existing production.
With around 450,000 barrels per day already coming from Angola, simply keeping output at current levels could continue to provide a meaningful contribution to the company's upstream cash flow. Any additional production from new discoveries and projects would offer further upside. The current oil-price environment also works in TotalEnergies' favor.
Brent crude recently climbed above $100 a barrel amid supply concerns and geopolitical tensions and is currently trading near this range. If prices remain elevated, projects designed to maintain or increase Angolan production could generate strong returns and make the company's investment more attractive. There are also signs that TotalEnergies SE (NYSE:TTE) is doing more than just trying to slow production declines.
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