ExxonMobil Makes New Oil Discovery in Angola’s Offshore Block 15

(Credit: ANPG)

ExxonMobil has made a new hydrocarbon discovery at the Vicango East-01 exploration well in Angola’s offshore Block 15, marking the third discovery in the prolific block in the past four years.

The well encountered about 25 metres (82 feet) of high-quality, hydrocarbon-bearing sandstone with porosity of 22%, Angola’s National Oil, Gas and Biofuels Agency (ANPG), ExxonMobil Angola and the Block 15 partners announced.

Vicango East-01 is located about 370 kilometres northwest of Luanda and was drilled in 940 metres of water by the Valaris DS-9 drillship.

The find is the 20th discovery in Block 15 over the past 30 years. More than 2.7 billion barrels have been produced from the block during that period.

“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,” said Brian Unietis, President and General Manager of ExxonMobil Angola.

ANPG Chairman Paulino Jerónimo linked continued exploration in the block partly to changes in Angola's legal and fiscal framework, including the extension of the Block 15 licence until 2032 and measures covering incremental production and exploration in and around development areas.

“This discovery is partly the result of adjustments to the legal framework and the incentives that the Angolan State has provided to investors. The extension of the Block 15 licence until 2032, Decree 8/24 on Incremental Production, as well as Decree 5/18 on the legal regime allowing exploration within and in proximity to development areas, are examples of this,” added Jerónimo.

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