Angola: ExxonMobil announces major offshore oil discovery

ExxonMobil and its partners have discovered oil on Block 15 offshore Angola, while drilling the exploration well in the Kizomba B development zone.

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 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 zone.

The Likembe-01 exploration well is the first to be drilled under the preliminary agreements of the incremental production project, which aims to encourage investors to produce additional volumes in concessions currently in production, as a fundamental strategy for the sustainable development of Angola's 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 (MIREMPET), ANPG is working to obtain executive approval for the incremental production project in line with the objectives of sustainable development and improved operational efficiency in the oil sector.

On May 13, ANPG and ExxonMobil signed a letter of agreement to stimulate research on Block 15, aimed at encouraging investors to drill more exploration wells, thereby guaranteeing cost recovery under the incremental production project.

The incremental production project is a strategy aimed at maximizing the recovery of hydrocarbons from producing oil concessions located in Angola's maritime zone, involving the addition of new oil and the expansion of the economic attractiveness of new projects in mature fields and undeveloped areas.