Exxon Mobil XOM.N 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.
“The well encountered 98 feet (30 metres) of high-quality sandstone containing hydrocarbons,” ANPG said in a statement.
The well, located in Block 15 about 365 km northwest of the coast of Luanda, was drilled through a water sheet of 1,100 metres, ANPG 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 B.V. holds 18%, Equinor Angola Block 15 A.S. holds
12% and Sonangol P&P has 10%.