Exxon Mobil Makes First Oil Discovery in Angola After 20 Years – THISDAYLIVE


Emmanuel Addeh in Abuja

Exxon Mobil has announced that it has, together with its partners, discovered hydrocarbons in Block 15 off Angola in the Bavuca South, marking the first commercial oil find by the company in the country since 2003.

The last big fossil fuel discovery on the continent dates back to 2010, oilprice.com reported.

Over the past five years, the United States’ largest independent oil and gas company, has mostly focused its exploratory activities in South America.

In contrast, Exxon’s exploits in Africa have been few and far between, with its last discovery on the continent coming nearly two decades ago. This was the block’s 18th discovery, but the first since 2003.

According to Exxon, the Valaris DS-9 drillship drilled the Bavuca South-1 well 365 km northwest from the coast at Luanda in 1,100 m (3,608 ft) of water, encountering 30m (98 ft) of good-quality, hydrocarbon-bearing sandstone.

Exxon owns 36 per cent interest in…

Source: Thisday Newspaper