Sonangol Sinopec International News

French oil major Total is on the verge of making a final investment decision on Angola's Kaombo oil project after lowering the cost by $4 billion, its chief executive said on Friday. "We're on the verge," Christophe de Margerie told reporters on the sidelines of an oil conference in Paris. The field is expected to produce 230,000 barrels of oil equivalent per day, with a start-up date expected in 2017. Sonangol P&P has a 30 percent stake in the project, Sonangol Sinopec International has 20 percent, ExxonMobil's Esso unit holds 15 percent and Total owns the remaining 30 percent.

FMC Technologies, Inc. (NYSE: FTI) announced on Jan. 15 that it has signed a contract with BP for the manufacture and supply of subsea equipment for the BP and Sonangol Sinopec International Block 18 field development, located offshore Angola. The contract is valued at approximately $140m in revenue for FMC. FMC's scope of supply includes one gas export regulation manifold, foundations and controls, a high-integrity pressure protection system, chokes and two pipeline end manifolds. The equipment will be manufactured in Angola and at FMC's Kongsberg, Norway facility. Deliveries will commence in 2009. "For several years FMC has worked closely with BP…