ExxonMobil Corp. and its partners reported they will invest more into Block 15 offshore Angola to increase production by an additional 40,000 b/d as part of an agreement with Angola’s recently established National Agency for Petroleum, Gas, and Biofuels.
As operator, ExxonMobil will complete a multiyear drilling program on the block and install infrastructure technology to increase capacity of existing subsea flow lines, the company said. The project will generate about 1,000 local jobs during the execution phase.
Changes to the production-sharing agreement extend operations through 2032 and bring Angola state-owned oil firm Sonangol into the Block 15 partnership with a 10% interest. Under the agreement, other interest holders include Esso Angola 36%, BP Exploration 24%, Eni Angola Exploration 18%, and Equinor Angola 12%.
ExxonMobil has interest in three deepwater blocks covering nearly 2 million gross acres in Angola. These blocks have a gross recoverable resource potential of 10 billion boe. Block 15 has produced more than 2.2 billion bbl of oil since 2003.
