EXXOMMOBIL TO BOOST ANGOLA BLOCK 15 PRODUCTION

ExxonMobil and its partners said today they will further invest in Block 15 offshore Angola to increase production as part of an agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels. As part of the agreement, Sonangol, Angola’s state oil company, will receive a 10 percent equity interest.
• Project to produce approximately 40,000 additional barrels of oil per day
• Production-sharing agreement extends operations through 2032
• Project will generate about 1,000 local jobs during construction
“This renewed collaboration will enable Angola to optimize recovery and add production from mature fields,” said Hunter Farris, senior vice president of ExxonMobil Upstream Oil & Gas Company.
As operator, ExxonMobil will complete a multi-year drilling program in the block and install new infrastructure technology to increase capacity of existing subsea flow lines. The project will generate about 1,000 local jobs during the execution phase, and will produce approximately 40,000 additional barrels of oil per day once online.
Changes to the production sharing agreement extend operations through 2032 and bring Sonangol into the Block 15 partnership with a 10 percent interest. Under the agreement, Esso Angola’s interest is 36 percent, BP Exploration’s share is 24 percent, ENI Angola Exploration’s interest is 18 percent and Equinor Angola’s share is 12 percent.
Block 15 development is focused on the Kizomba Satellites Phase 2 project, which includes subsea tiebacks to the Kizomba B and Mondo FPSO vessels. The Phase 2 project is expected to recover approximately 190 million barrels of oil. Development drilling began in 2014, and production started ahead of schedule in 2015. Drilling is ongoing and wells will continue to be brought online into 2017. Through collaborative development efforts with our partners and major contractors, we continue to utilize the local workforce to enhance Angolan economic development and competitiveness.
ExxonMobil has interest in three deepwater blocks covering nearly 2 million gross acres in Angola. These blocks contain substantial development opportunities and have a gross recoverable resource potential of approximately 10 billion oil-equivalent barrels. Block 15 has produced more than 2.2 billion barrels of oil since 2003.
(Source: ExxonMobil)