ExxonMobil Acquires Deepwater Exploration Blocks in Namibe Basin Offshore Angola

Post Views: 1884

By Ndubuisi Micheal Obineme

Following the recent reforms in Angola’s oil and gas industry, ExxonMobil, in-line with its commitment to deepen exploration and production (E&P) activities in Angola, has acquired a Frontier Deepwater Exploration Blocks in Namibe Basin Offshore Angola.

ExxonMobil’s General Manager and Lead Country Manager in Angola, Andre Kostelnik announced during his presentation at the Angola Oil & Gas Technology Virtual Conference held on 15 – 17 December 2020.

In his words, “Recently, we acquired Block 30,44,45 which is a Frontier Deepwater Exploration Blocks in Namibe Basin Offshore Angola. This is a very exciting opportunity for us. We signed the contract with the ministry and agency in October and we have already progressed for the 3D Seismic acquisition with the expectation that we will evaluate to fully understand the potential of the blocks within the next few years.

“We expect that potential exploration drilling will occur between 2024 and 2025 after we have concluded the 3D Seismic acquisition.

“We also have an operator asset in Block 15 which includes Four Producing FPSOs and Two Tension Leg Platforms. And we have been operating in Block 15 since the first production in 2003.

“Today, Block 15 produces 200,000 barrels per day. We are managing base production to ensuring effective reservoir management and maintaining the integrity of our assets.

“Additionally, Block 15 has a redevelopment project which we started in 2020. And it resulted in a drilling program that involves 18 wells with a combination of drilling from our Tension Leg Platforms (TLP) rig. We are currently in progress to returning the TLP rig for operation and we hope that we commence drilling by 2021.

“We have opportunities for a multi-face subsea project, and this is something we will commence within 2024 and 2025 timeframe.

“We also have Non-Operated investments in Block 17 (Total operated), Block 32 (Total operated), and Cabinda Centro Onshore Block (Eni operated).

ExxonMobil Deepwater blocks in Angola covers nearly 2 million gross acres. These blocks contain world-class development opportunities and have a gross recoverable resource potential of approximately 10 billion oil-equivalent barrels including production from the co-venture Block 17.