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ExxonMobil Strikes Oil Offshore Angola

ExxonMobil Strikes Oil Offshore Angola

 

ExxonMobil and its partners have made an oil discovery at Block 15 offshore Angola, while drilling the exploration well located in the Kizomba B development area.

The discovery was made while drilling the Likembe-01 well in Block 15, operated by ExxonMobil, in partnership with Azule Energy, Equinor and Sonangol.

Drilled between the months of February and April 2024, the well is located at a water depth of 1,200 meters, having crossed reservoirs of Miocene age and reaching a final depth of 3,013 meters, within the perimeter of the Kizomba B development area.

The Likembe-01 exploration well is the first well drilled within the scope of the preliminary agreements of the incremental production project, which aims to provide incentives to investors to produce additional volumes in concessions currently in production, such as fundamental strategy for the sustainable development of the Angolan oil sector, according to the country’s National Oil, Gas and Biofuels Agency (ANPG).

Under the supervision of the Ministry of Mineral Resources, Oil and Gas, ANPG has been working towards obtaining approval by the executive of the incremental production project in line with development objectives sustainability and improvement of operational efficiency in the petroleum sector.

On May 13, ANPG and ExxonMobil have signed a letter of agreement to boost research in the Block 15, which aims to encourage investors to drill more exploration wells, safeguarding cost recovery within the scope of the incremental production project.

The incremental production project is a strategy that aims to maximize the recovery of hydrocarbons in the oil concessions in production, located in the maritime zone of Angola, which involves adding new oil and expanding the economic attractiveness of new projects in mature fields and areas not yet developed.

Read the latest issue of the OGV Energy magazine HERE

Published: 15-05-2024

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