PARIS, April 14 (UPI) -- French energy company Total said Monday it made a final investment decision to develop the deep water Kaombo project off the coast of Angola.
Total said it opted to reduce the cost of the deep water prospect by $4 billion to $16 billion and operations should start in 2017. The field, which has an estimated 650 million barrels of reserves, should produce 230,000 barrels of oil per day for Angola once operations begin.