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ExxonMobil makes new offshore hydrocarbon discovery off Angolan coast

ExxonMobil and partners have made a new hydrocarbon discovery in the offshore Bavuca Sul-1 exploration well off Luanda's coast, Angola's National Agency of Petroleum, Gas and Biofuels (ANPG) said on Monday, 7 November.

By Wendell Roelf

8 Nov 2022

Source: bobby oksa © 123RF.com

"The well encountered 98 feet (30 metres) of high-quality sandstone containing hydrocarbons," ANPG said in a statement.

Located in Block 15, about 365km northwest of the coast of Luanda, the well was drilled through a water sheet of 1,100m, it said.

"As operator of the block, ExxonMobil is implementing new technology and multi-year drilling technologies and a multi-year drilling programme and expects to produce approximately 40,000 barrels of oil per day, which will help offset natural production declines (elsewhere)," ANPG added.

Esso Exploration Angola (Block 15) Limited, an ExxonMobil subsidiary, is operator of Block 15 with a 36% stake. BP Exploration (Angola) Limited holds 24%, ENI Angola Exploration BV holds 18%, Equinor Angola Block 15 AS holds 12% and Sonangol P&P has 10%.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/