ExxonMobil plans to invest up to $15 billion in Angola’s Namibe basin by 2030, following ongoing drilling campaigns. With 30 years of experience in the country, the company is developing large-scale oil and gas projects and enhancing output at existing fields.
The company’s lead country manager and managing director for Angola Katrina Fisher will provide an update on the company’s project portfolio in Angola during the African Energy Week (AEW): Invest in African Energy conference this November. Boasting 18 discoveries in Block 15 alone, ExxonMobil is intensifying its exploration and production activities in the country, aligning with national objectives to maintain production above 1.1 million barrels per day (bpd) through 2027.
The company currently produces 200,000 barrels daily across various high-potential blocks, with interests in Blocks 15, 17, 32, 30, 44, and 45. Hitting a milestone of 2.5 billion barrels of cumulative production at Block 15 in 2023, the company remains committed to supporting production growth in Angola. ExxonMobil is making great strides towards maximizing production at active oilfields in Angola. In line with the country’s Incremental Production Initiative, which aims to incentivize investment in producing fields through amended fiscal terms, the company made a discovery at the Likember-01 research well in Block 15 this year. Situated in the Kizomba B development area, the well revealed the existence of high-quality hydrocarbon-bearing sand packages and was the first to be drilled as part of the Incremental Production program.
The discovery follows another find made at the Bavuca Sul-1 exploration well in November 2022, both of which underscore additional potential at Block 15. Fisher will provide an update on ExxonMobil’s efforts to revitalize output at producing fields in the southern African nation at the AEW: Invest in African Energy 2024.
Alongside upstream projects, ExxonMobil is contributing to sustainable development in Angola through local content, environmental, social, and governance initiatives, and capacity-building efforts. In June 2024, the ExxonMobil Foundation launched the Africa STEM Program in Angola, part of a US$300 million project to promote STEM education for approximately 3,000 African students across Nigeria, Namibia, Angola, and Mozambique. The program aims to equip 1,000 Angolan students with essential skills to thrive in the STEM industry.
ExxonMobil and its Block 15 partners sponsor the Eco-Youth Program, providing vocational training to over 600 girls in Angola’s Benguela and Luanda provinces in electrical installation, environmental sustainability, IT training, and welding. At the AEW: Invest in African Energy 2024 conference, Fisher will share strategies for sustainable oil and gas development in Angola and discuss future projects and collaboration with regional and global partners.
