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Total pushes ahead with $16bn Angolan Kaombo oil project

Published April 14, 2014 Updated April 14, 2014 06:20am

1 min

By Shoaib Ur Rehman

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PARIS: French oil major Total said on Monday it had decided to invest in Angola's Kaombo oil project after lowering its cost by $4 billion to $16 billion.

The ultra-deep offshore field will have a production capacity of 230,000 barrels per day, for a start-up date in 2017, Total said in a statement.

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