Kaminho Project Overview

Project Summary

The Kaminho project is a $6 billion deepwater oil and gas development in Block 20/11, located in Angola's frontier Kwanza Basin. It is the first large-scale deepwater development in this pre-salt basin — a geological province analogous to Brazil's prolific Santos and Campos basins. The project targets the Cameia and Golfinho fields, situated approximately 100 km offshore Angola in 1,700 meters of water depth. Originally known as the Cameia-Golfinho development, the project was rebranded to Kaminho ahead of the Final Investment Decision.

The consortium comprises TotalEnergies (operator, 40%), Petronas (40%), and Sonangol (20%). The ANPG (Agência Nacional de Petróleo, Gás e Biocombustíveis) is the concessionaire. FID was announced on May 20, 2024 in Luanda during a meeting between TotalEnergies CEO Patrick Pouyanné and Angolan President João Lourenço, with MIREMPET Minister Diamantino Azevedo, ANPG Chairman Paulino Jerónimo, and Sonangol CEO Gaspar Martins present. Production start-up is targeted for 2028 with peak output of 70,000 barrels of oil per day.

Development Concept

The development centers on the FPSO Kaminho — a floating production, storage and offloading vessel being converted from the VLCC Alsace (299,999 DWT, built 2012 by Samsung Heavy Industries). The conversion is managed by Saipem and executed at China Merchants Heavy Industry (CMHI) in Nantong, China. The FPSO connects to the seafloor through a subsea production network provided by SLB OneSubsea, comprising a 13-well system developed in two phases — Phase 1 targeting Cameia, Phase 2 targeting Golfinho.

The SURF (Subsea Umbilicals, Risers and Flowlines) package, also contracted to Saipem, includes approximately 30 km of 8-inch and 10-inch subsea flowlines, risers, and umbilicals. Associated structures are being fabricated at Saipem's Ambriz yard in Angola, where 94% of the workforce are qualified Angolan professionals. For complete contract details, see our dedicated page.

Environmental Design

Kaminho is designed as a next-generation, low-emission facility. The all-electric FPSO eliminates onboard gas turbines. Zero routine flaring is achieved through complete reinjection of associated gas into reservoirs. An 80 MW power generation system by Siemens Energy provides reliable vessel power. The project achieves a breakeven below $30/bbl and carbon intensity of 16 kg CO2e/boe. Post-combustion CCS technology could prevent approximately 8 million tonnes of CO2 over the project's life.

Strategic Significance

The Kaminho project is strategically critical for multiple stakeholders. For Angola, it opens a new petroleum frontier and supports the national target of maintaining production above 1 million bpd by 2027 despite natural field decline of roughly 10% per year. For TotalEnergies, it deepens a 70+ year partnership with Angola and adds a seventh FPSO to its Angolan fleet. For Petronas, it expands the Malaysian company's international deepwater portfolio into West Africa. For the global industry, it demonstrates the commercial viability of the Kwanza Basin pre-salt play.

ANPG Chairman Paulino Jerónimo stated at FID: "The first development in the maritime zone of the Kwanza basin is important to showcase the opening of new oil frontiers in Angola, and it's part of our strategy to keep Angola on the top of African oil producers." Minister Diamantino Azevedo called the first steel cut "a turning point for the Angolan oil industry." For full timeline, investment analysis, and strategic outlook, see our dedicated pages.