ExxonMobil Announces Venus Discovery In Deepwater Angola Block 31

Source: www.gulfoilandgas.com 6/9/2004, Location: Africa

Exxon Mobil Corporation announced today that its subsidiary, Esso Exploration and Production Angola (Block 31) Limited, has participated in a deepwater oil discovery on Block 31 offshore Angola.

Venus is located approximately 110 miles (175 kilometers) off the Angolan coast in water depths of 6,600 feet (2,000 meters). Venus is the fifth exploration well and fourth discovery announced in Block 31 following the Pluto, Saturno and Marte discoveries, which lie some six to nine miles (10 to 15 kilometers) from Venus.

This, and more than thirty-five previously announced discoveries on Angola Blocks 15, 17, 31 and 32, represent significant additions to the company's resource base in Angola, currently estimated at more than 11.5 billion oil-equivalent barrels (gross).

ExxonMobil's subsidiary, Esso Exploration Angola (Block 31) Limited, has a 25 percent interest with coventurers BP Exploration (Angola) Limited (operator) at 26.67 percent, Sociedade Nacional de Combustveis de Angola (Sonangol) 20 percent, Statoil Angola a.s. 13.33 percent, Marathon Petroleum Angola Block 31 Limited 10 percent and Total subsidiary EPA (Block 31) Ltd 5 percent. Sonangol is the concessionaire for the block.



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