ANPG, ExxonMobil announce new discovery offshore Angola

The find is the 20th discovery in Block 15 over the past 30 years and the third in the block in the last four years. Block 15, one of Angola’s most productive deepwater areas, has produced more than 2.7 billion barrels of oil since production began in 2003.

No estimate of oil in place, recoverable resources, development cost or first-production timing has been disclosed. Further evaluation and testing will be required to assess commercial potential. The partners noted that new discoveries in a mature producing block can increase the value of existing infrastructure and support future production opportunities.

Brian Unietis, President and General Manager of ExxonMobil Angola, said: “After more than 23 years of successful production from Block 15, this discovery demonstrates the continued potential of Angola’s offshore resources and reflects our ongoing commitment to exploration and development in the country. Block 15 has been one of Angola’s most significant deepwater developments, and discoveries like this help increase the value of existing infrastructure while supporting future production opportunities.”

Paulino Jerónimo, Chairman of the Board of ANPG, added that the result is partly due to adjustments in Angola’s legal framework and incentives for investors, including the extension of the Block 15 license to 2032, Decree 8/24 on incremental production, and Decree 5/18 on exploration within and near development areas.

Esso Exploration Angola (Block 15) Limited, an ExxonMobil affiliate, operates the block with a 36% interest. Partners are Azule Angola Limited (24%), Azule Angola BV (18%), Equinor Angola Block 15 A.S. (12%) and Sonangol E&P (10%). ANPG is the concessionaire.

Block 15 is a mature deepwater concession that has been a cornerstone of Angola’s offshore production for more than two decades. Incremental exploration and development in and around existing facilities is part of efforts to extend field life and sustain output from established infrastructure.