Total invests USD 1 billion in local content

Luanda Total E.P Angola invested, between 2018 and 2019, USD one billion in the local content industry that provides services to the oil sector, announced today its managing director, Olivier Jouny.

This figure represents a quarter of the approximately USD 3 billion that the world oil company has spent on its operating activities.

The official, who was speaking to the press at the Local Suppliers Forum, informed that the oil company does not yet have an industrial fabric for some specific and complex equipment.

Of the approximately 600 Angolan companies with local content certified by the Centro de Apoio Empresarial (CAE), one third of this number showed interest in working with Total in the period from 2018 to 2019.

The multinational currently produces more than 650,000 barrels of oil / day in Angola, through six FPSOs in blocks 17 and 32, which represents about 40% of the country’s production.

Present in different lines of business, from Exploration-Production of hydrocarbons (oil and gas) to Distribution, Total group intends to invest in the country in the renewable energy sector, as it is one of the world leaders in this activity.

Source: Angola Press News Agency