Africa-Press – Angola. ExxonMobil’s Vice President for Deepwater Operations, Hunter Farris, announced Friday, in Luanda, the investment decision to expand Block 15, one of the company’s largest oil projects in Angola, which will guarantee the continuity of operations until 2037.
The information was provided in statements to the press, after an audience granted to him by the President of the Republic, João Lourenço, during which issues related to the oil company’s operations in the country were discussed.
Hunter Farris highlighted the importance of the investment for the Angolan oil market, stating that the decision to extend the lifespan of Block 15 represents a significant milestone for the country’s economy.
“This decision will allow the assets and resources of Block 15 to continue generating wealth for Angola until 2037,” said the ExxonMobil executive.
He explained that the expansion of the project will bring direct benefits to the energy market and generate revenue for Angola.
The manager also took the opportunity to congratulate the Angolan people on the 50th anniversary of National Independence, celebrated on the 11th, and expressed gratitude to President João Lourenço for the continued partnership between the Angolan government and the company in the energy sector.
Hunter Farris described the meeting with the President as “very successful,” as it reinforced ExxonMobil’s long-term commitment to Angola, a country where the company maintains a significant presence in the oil and gas exploration and production sectors.
The Angolan government has sought to diversify the economy from oil and gas to other areas, and ExxonMobil has collaborated with the authorities to support the development of new sectors and new energy sources.
With long-term investment decisions, such as the expansion of Block 15 until 2037, the company confirms its commitment to the economic and social development of Angola.
About ExxonMobil
ExxonMobil is a USA multinational. It is one of the largest and most powerful energy and petrochemical companies in the world, headquartered in Irving, in the state of Texas, USA.
It operates in several countries, where it has a significant presence in the oil and gas sector, mainly in deepwater offshore areas.
The company reinforced its position as one of the largest oil operators in Angola, with significant advances in its deepwater blocks, robust investments in the local economy and important milestones achieved in Block 15, one of the most productive in the country.
The oil company maintains a stake in three deepwater exploration blocks, totaling almost two million acres, with an estimated potential of 10 billion barrels of oil equivalent in recoverable resources.
Block 15, operated by Esso Exploration Angola, remains at the center of ExxonMobil’s operations in the country. The company holds a 40% stake and it is estimated that the block has a gross potential of four billion barrels.
Since the beginning of production in 2003, more than two billion barrels have been extracted, with the block reaching, in 2023, the accumulated mark of 2.5 billion barrels produced.
In recent years, the company’s production has maintained impressive values. In 2016, net production, including volumes from Block 17, reached 169 thousand barrels per day.
Among the highlighted projects is Kizomba Satellites (Phase 1), started in 2012, with an installed capacity of 100 thousand barrels per day.
The company invested around 1.5 billion dollars in local goods and services for this development.
The Kizomba B project, started in 2005, uses an FPSO with a storage capacity of 2.2 million barrels.
ExxonMobil and its partners have recorded several commercial discoveries in Block 15 over the years, including the “Reco Reco-1” well, announced in 2002 as the thirteenth discovery in the area.
Estimates point to more than 18 commercial discoveries in the block, reinforcing its strategic role in the Angolan oil sector.
Since the mid-2000s, the company has allocated almost $4 billion to goods, services and local manufacturing initiatives.
In the field of employment, the workforce has grown from just 12 workers in 1994 to around 700, of which approximately two-thirds are Angolans.
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