ExxonMobil makes oil discovery off Angola

Exxon Mobil Corp. said today that its subsidiary Esso Exploration Angola (Block 15) Ltd. has made yet another deepwater oil discovery off Angola, its eighth oil find on Block 15. The Saxi-1 discovery well encountered an oil-bearing reservoir that flowed on test at a rate of 5,400 b/d.


ExxonMobil Corp. said today that its subsidiary Esso Exploration Angola (Block 15) Ltd. has made yet another deepwater oil discovery off Angola, its eighth oil find on Block 15. The block has caught up with prolific Block 17, where TotalFinaElf SA subsidiary Elf Exploration Angola and partners made their eighth oil discovery earlier this year (OGJ Online, Apr. 30, 2000). ExxonMobil holds a 20% stake in Block 17.

The Saxi-1 discovery well on Block 15 encountered an oil-bearing reservoir that flowed on test at a rate of 5,400 b/d of 36� gravity oil. The well, drilled in 2,200 ft of water to 10,800 ft TD, is located 220 miles northwest of Luanda.

Esso is operator of Block 15 with a 40% working interest. Its partners are BP Exploration (Angola) Ltd., 26.67%; Agip Angola Exploration BV, 20%; and Statoil AS, 13.33%.

ExxonMobil called Block 15 "a world-class development opportunity with recoverable reserves potential in excess of 3 billion boe."

Esso and Sociedade Nacionale de Combustiveis de Angola (Sonangol), the state oil company of Angola, have previously announced seven Block 15 discoveries: the Mondo discovery earlier this year; the Chocalho and Xicomba discoveries in 1999; and the Hungo, Kissanje, Marimba, and Dikanza discoveries in 1998.

ExxonMobil claims to be the largest multinational deepwater acreage holder off West Africa, with interests in 23 blocks totaling more than 20 million gross acres off Angola, Republic of Congo, and Nigeria. ExxonMobil and its partners have announced 21 key deepwater discoveries in the region.

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