As part of the Angola Block 15 redevelopment project, ExxonMobil Angola, the National Agency for Petroleum, Gas and Biofuels (ANPG), and the Angola Block 15 partners have discovered the Bavuca South-1 exploration well in Angola.
As the block’s operator, ExxonMobil is leading the installation of new technology and a multi-year drilling program aimed at producing approximately 40,000 barrels of oil per day to help offset natural production declines.
The well encountered 30 meters (98 feet) of high-quality, hydrocarbon-bearing sandstone. It is located approximately 365 kilometers northwest off the coast of Luanda and was drilled in 1,100 meters (3,608 feet) of water by the Valaris DS-9 rig.
“ExxonMobil is optimizing this resource and delivering value to the people and government of Angola, our Block 15 partners and our shareholders,” said Liam Mallon, president of ExxonMobil Upstream Company. “Our development strategy continues to deliver, providing affordable energy to meet increasing global demand while reducing emissions. In Angola, we have reduced greenhouse gas emissions by 74% since 2016.” Also read: Mozambique to Set Up Wealth Fund for Transparent Gas Revenues
Previous 17 discoveries on Block 15 include, Hungo, Kissanje, Marimba and Dikanza in 1998; Chocalho and Xikomba in 1999; Mondo, Saxi and Batuque in 2000; Mbulumbumba, Vicango and Mavacola in 2001; Reco Reco in 2002; and Clochas, Kakocha, Tchihumba and Bavuca in 2003.
ExxonMobil affiliate Esso Exploration Angola (Block 15) Limited is the operator of Block 15 and holds a 36% interest. 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 holds 10%. The National Agency for Petroleum, Gas and Biofuels (ANPG) is the Block 15 concessionaire. Also read: QatarEnergy, ExxonMobil Win Bid for Parcel 8 Offshore Canada
At a time when Europe is looking for oil and gas supply sources to reduce its dependence on Russian supplies, this finding is timely and economically beneficial for Africa as a whole.
Also read: Africa's Oil and Gas Future: Series of Challenges Ahead
