ExxonMobil Angola Subsidiary Announces Two Deepwater Discoveries on Angola Block 15

Source: www.gulfoilandgas.com 10/31/2003, Location: Africa

Exxon Mobil Corporation announced that its subsidiary, Esso Exploration Angola (Block 15) Limited (Esso), and Sociedade Nacional de Combustveis de Angola (Sonangol) have made two deepwater oil discoveries, Kakocha and Tchihumba, the fifteenth and sixteenth oil finds on Angola Block 15.

Kakocha-1 was drilled in 3,376 feet (1,030 meters) of water to a total depth of 9,140 feet (2,786 meters). The discovery well tested at flowrates of 4,500 barrels of oil per day.

Tchihumba-1 was drilled in 3,904 feet (1,190 meters) of water to a total depth of 13,684 feet (4,171 meters). The discovery well tested at flowrates of 7,470 barrels of oil per day.

These, and other discoveries previously announced on Angola Blocks 15, 17, 31 and 32, represent significant additions to the Company's resource base in Angola, which now stands at more than 10.5 billion oil-equivalent barrels (gross).

Esso and Sonangol have previously announced fourteen Block 15 discoveries with Hungo, Kissanje, Marimba and Dikanza in 1998; Chocalho and Xikomba in 1999; Mondo, Saxi and Batuque in 2000; and Mbulumbumba, Vicango and Mavacola in 2001; Reco Reco in 2002; and Clochas in 2003.

Located approximately 215 miles (350 kilometers) northwest of Luanda, Block 15 represents a world-class development opportunity with the potential to recover more than 4 billion oil-equivalent barrels (gross).

In addition to Esso (operator, 40 percent), other participants in Block 15 are BP Exploration (Angola) Limited (26.67 percent), Eni Angola Exploration B.V. (20 percent) and Statoil Angola (13.33 percent). Sonangol is the concessionaire.



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