ExxonMobil and ANPG Make 20th Oil Discovery in Angola's Block 15
ExxonMobil, along with the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG), announced a new oil discovery at the Vicango Este-01 well in Angola’s deepwater Block 15. This marks their 20th find since production began on the block, which has produced over 2.7 billion barrels of oil across three decades. The well encountered high-quality hydrocarbon-bearing sandstone and is expected to enhance existing infrastructure value. The discovery follows Chevron's recent success in neighboring Block 0 with a significant deepwater find. Meanwhile, Angola’s state-owned Sonangol continues financial challenges despite holding stakes in multiple offshore blocks. It recently secured $2.65 billion from a bank syndicate and has additional funding needs for its Lobito refinery project. Angola remains one of Sub-Saharan Africa's top crude producers with output near 1.1 million barrels per day, down from over 2 million bpd in 2008. New fiscal incentives are encouraging renewed exploration activity across both mature and untested areas.
Topics: Angola Block 15 ANPG ExxonMobil oil discovery