ExxonMobil Holdings Corp. discovered a new oil and gas field on the Angolan shelf while drilling the Vicango East-01 exploration well. This is reported in a press release from ExxonMobil.
The oil field was discovered at Block 15 and became the twentieth discovery at this site in the last 30 years. The oil-rich Block 15 is a major source of oil and gas resources for Angola, providing more than 2.7 billion barrels of oil during development.
ExxonMobil has been operating on Block 15 for more than 20 years and believes that it still has significant untapped potential. The ongoing exploration activities demonstrate the company's commitment to develop offshore deposits in Angola and expand its long-term production potential.
ExxonMobil owns 36% of Block 15 through its subsidiary Esso Exploration Angola (Block 15) Limited. The partners in Block 15 are Azule Angola Limited and Azule Angola BV, as well as Equinor Angola Block 15 (12%) and Sonangol E&P (10%).
Angola's National Oil, Gas and Biofuels Agency, which is the concessionaire of Block 15, has made regulatory and fiscal policy changes, including extending the Block 15 development license until 2032.
Exxon Mobil Corp. — one of the largest multinational oil and gas companies in the world by market capitalization ($400 billion). The company is engaged in the exploration, production, refining and marketing of oil and natural gas, including the sale of lubricants under the Mobil brand and fuels under the Exxon, Mobil and Esso brands. The main oil reserves are located in Asia and the USA, while natural gas reserves are located in the USA, Australia, Asia and Europe. The headquarters is located in Irving, Texas.
