Luanda — The National Oil, Gas and Biofuels Agency (ANPG) signed last Monday a contract with ExxonMobil, Operator of Block 15 in Angola, which establishes the amendment to the current Production Sharing Contract for Block 15.
As part of the agreement, the respective production license will be extended until 2032 and Sonangol is integrated into the Contractor Group of that Block, obtaining a 10% stake.
From now on, ExxonMobil's participative interest will be 36%, 24% from BP Exploration, 18% from ENI Angola Exploration and 12% from Equinor Angola.
The project foresees a production of approximately 40.000 barrels of oil / day and will generate about 1000 local jobs during the implementation phase. This agreement is the culmination of the commitment signed in 2019.
The signing follows the Commitment Agreement signed on June 5, 2019, allowing ExxonMobil to carry out a multi-year drilling program in the block and install new technology in order to increase the capacity of the existing subsea flow lines.
"By means of this agreement, ExxonMobil and its partners will contribute to the increase in the investments needed to increase production in the short term and generate more jobs at the local level", said the ANPG's CEO, Paulino Jerónimo.
"This collaboration with ANPG will allow Block 15 to optimize recovery and add oil production from mature fields", said the director general of ExxonMobil in Angola, Andre Kostelnik.