ExxonMobil & Sonangol Sign 3 Contracts for the Namibe Basin

Source: www.gulfoilandgas.com 10/7/2020, Location: Africa

Angola's National Oil, Gas and Biofuels Agency (ANPG) has signed three Risk Service Agreements with ExxonMobil and Sonangol that make it possible to increase the exploration area in the offshore area Angola over 17,800 sq kms. These agreements will make it possible to identify the potential of hydrocarbon resources existing in the Namibe basin. It is recalled that until now the Namibe Basin was an unexplored maritime zone in Angola.

Deep water blocks 30, 44 and 45 are located between 50 and 100 kms from the Angolan coast, in a water depth that varies between 1,500 and more than 3,000 meters in depth.

Chairman of the Board of Directors of ANPG, Paulino Jerónimo, welcomes the signing of these Contracts and underlines the advantages inherent to the presence of ExxonMobil in the Namibe Basin, which will allow to deepen the geological knowledge, as well as to explore the hydrocarbon potential there. On the same occasion, Paulino Jerónimo underlined that 'the success of the work carried out in Angola by international operators, many of whom already have a consolidated presence in the country, is an extremely important factor for the development and credibility of the Angolan oil sector'.

'We will work with the Angolan government and ANPG to identify the border areas with the best resource potential, applying our proven experience and our cutting-edge technology,' said Andre Kostelnik, ExxonMobil's General Manager in Angola, adding that 'these new concessions are the result of the long success history of our exploration and production activities in Angola.'

ExxonMobil is the operator of Blocks 30, 44 and 45, with an interest of 60%, with Sonangol having an interest of 40%.


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