Offshore staff
IRVING, Texas – ExxonMobil and its partners have reported they will invest more in block 15 offshore Angola to increase production as part of an agreement with the country’s recently established National Agency for Petroleum, Gas and Biofuels.
As operator, ExxonMobil will complete a multi-year drilling program in the block and install new infrastructure technology to increase capacity of existing subsea flowlines. The project is expected to add 40,000 b/d of oil.
Changes to the production-sharing agreement extend operations through 2032 and bring Sonangol into the block 15 partnership with a 10% interest. Under the agreement, Esso Angola will have 36% interest, BP Exploration 24%, ENI Angola Exploration 18%, and Equinor Angola 12%.
According to ExxonMobil, the project will generate about 1,000 local jobs during the execution phase.
“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 Co.
Since 2003, block 15 has produced more than 2.2 Bbbl of oil.
06/05/2019
