Skip to content
Subscriber Only

Two OPEC Nations Set to Open Giant Fields. At What Cost to Deal?

  • Total to bring projects off Angola and Nigeria online in 2018
  • Field startups will add 430,000 barrels a day between them
Video player cover image

OPEC's Control of the Oil Market Is Running on Fumes

Two OPEC countries will bring giant oil fields online this year, testing their commitment to cap output amid a global push to curb supply.

Total SA plans to start production at two so-called mega-projects, Kaombo in Angola and Egina in Nigeria, Chief Executive Officer Patrick Pouyanne said Thursday. Once both are onstream -- Kaombo by mid-year and Egina in the fourth quarter -- they’ll have a combined capacity of 430,000 barrels a day. That exceeds the total output of OPEC members Gabon and Equatorial Guinea.