TotalEnergies inks a $1.8bn deal with BlackRock's GIP for African infrastructure while fast-tracking the Acacia-5 oil discovery in Angola to boost regional output.
TotalEnergies partners with GIP for $1.8bn capital contribution and announces Acacia-5 discovery, crystallising value of African midstream assets.
Equinor holds a 22.16% interest in Block 17 where the Acacia-5 discovery will add ~6,000 bpd.
ExxonMobil holds a 19% interest in Block 17 and signed a heads of agreement for Benguela Basin blocks.
GIP, part of BlackRock, makes a $1.8bn capital contribution to TotalEnergies' African infrastructure assets.
TotalEnergies has finalized a $1.8 billion infrastructure partnership with Global Infrastructure Partners, a BlackRock subsidiary, to monetize African midstream assets. Simultaneously, the company is accelerating the development of the Acacia-5 discovery in Angola, which is expected to contribute 6,000 barrels per day to production by mid-2026.
GIP is providing a $1.8 billion capital contribution for TotalEnergies' African oil and gas infrastructure assets in exchange for a throughput-based tariff over a 15-year period.
The discovery is expected to add approximately 6,000 barrels per day to Block 17 production by leveraging spare capacity at the existing Pazflor floating production facility.