2023-11-17 19:27:03
Speaking to the press, at the end of an audience with the President of the Republic, João Lourenço, Hunter Farris informed that these were exploration studies to determine the oil potential of the concession area.
He said that new drillings naturally imply an increase in investments, which can only be quantified depending on the results of exploratory studies that are carried out from the second half of 2024.
Hunter Farris welcomes the partnership with Angola in Block 15, 150 kilometers from Soyo, Zaire province, where ExxomMobil contributes with a production of 175 thousand barrels per day.
The senior vice president for Deepwater Operations stated that ExxonMobil has already invested more than US$30 billion in block 15 in Angola.
ExxonMobil is an American multinational oil and gas company, headquartered in Irving, Dallas, State of Texas, which was formed on November 30, 1999, in the merger of Exxon and Mobil, two companies resulting from the division of Standard Oil Company in 1911.
Block 15
Last September, the National Oil and Gas Agency renewed the production license in ExxonMobil’s Block 15 until December 31, 2032.
The signing was carried out in Luanda, as part of the Angola Oil&Gas international conference, by Paulino Jerónimo, President of ANPG, and André Kostelnik, General Director of Esso Angola and Lead Country Manager of ExxonMobil for business in Angola.
The document includes an addendum to the production sharing contract, which will integrate Sonangol Pesquisa e Produção into the contracting group, with 10% of the capital.
It also foresees the additional production of 40 thousand barrels of oil per day and the creation of around a thousand local jobs due to the implementation of a new drilling program and the installation of new technologies that aim to increase the capacity of submarine flow lines existing.
The previously signed production license was valid until 2026. ExxonMobil, focused on the profitability of its operation in Angola and based on the known potential of Block 15, proposed to the national concessionaire the extension of the contract, with considerable gains for both parties. JFS/VIC/ADR
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