According to a statement from Angola’s National Agency of Oil, Gas, and Biofuels (ANPG), a discovery was made in the Bavuca Sul-1 exploration well, which is part of the Block 15 redevelopment project.
The document notes that the well encountered 30 meters (98 feet) of high-quality sandstone containing hydrocarbons, having been drilled through a water sheet of 1,100 meters (3,608 feet) by the Valaris DS-9 drillship.
“As the Block operator, ExxonMobil is implementing new technologies and a multi-year drilling program, expecting to produce approximately 40,000 barrels of oil per day, which will help offset natural production declines,” the note said.
In Block 15, 17 discoveries were previously made, namely Hungo, Kissanje, Marimba, and Dikanza in 1998; Chocalho and Xikomba in 1999; Mondo, Saxi, and Batuque in 2000; Mbulumbumba, Vicango, and Mavacola in 2001; Reco-Reco in 2002; and Clochas, Kakocha, Tchihumba, and Bavuca in 2003.
The president of the board of ANPG, Paulino Jerónimo, quoted in the statement, welcomed this discovery and its significance.
“Angola continues to have oil potential, and ANPG and its partners will continue to do everything to make this a productive and profitable sector,” he stressed.
In his turn, the President of ExxonMobil Upstream Company, Liam Mallon, highlighted that the American multinational is optimizing this resource and creating value for the Angolan people, the Government of Angola, its partners, and its shareholders.
Liam Mallon stressed that ExxonMobil’s development strategy continues to produce positive results, providing affordable energy to meet the growing global demand for energy while reducing its emissions.
“In Angola, since 2016, we have already reduced greenhouse gas emissions by up to 74%,” he indicated.
Esso Exploration Angola (Block 15) Limited, an ExxonMobil subsidiary, is the operator of Block 15 with a 36% stake.
BP Exploration (Angola) Limited holds 24%, ENI Angola Exploration B.V. holds 18%, Equinor Angola Block 15 A.S. holds 12% and Sonangol P&P holds 10%.
With information from Lusa
More: Angola news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief