Total Cuts Angolan Oil Project Costs to $16 Billion

Total Cuts Angolan Oil Project Costs to $16 Billion

Total SA (FP), Europe’s third-largest oil company, cut the cost of its Kaombo project off Angola by about a fifth to $16 billion as it decided to proceed with the development.
The company and partners including Exxon Mobil Corp. (XOM) and Galp Energia SGPC SA made a final investment decision to build the project due to start pumping oil in 2017, Total said in a statement. It will be able to produce 230,000 barrels of oil equivalent a day.
total
 

#FOLLOW US ON INSTAGRAM