Luanda: ExxonMobil's Vice President for Deepwater Operations, Hunter Farris, announced today in Luanda the investment decision to expand Block 15, one of the company's largest oil projects in Angola, which will guarantee the continuity of operations until 2037. According to Angola Press News Agency, the information was provided in statements to the press after a meeting with the President of the Republic, Joo Lourenço, where issues related to the oil company's operations in the country were discussed. Hunter Farris emphasized the significance of the investment for the Angolan oil market, noting that the decision to extend the lifespan of Block 15 represents a milestone for the country's economy. Farris stated, "This decision will allow the assets and resources of Block 15 to continue generating wealth for Angola until 2037." He explained that the expansion of the project will bring direct benefits to the energy market and generate revenue for Angola. The ExxonMobil executive also congratulated the Angolan people on the 50th anniversary of National Independence and expressed gratitude to President Joo Lourenço for the continued partnership between the Angolan government and the company in the energy sector. He described the meeting with the President as successful, reinforcing ExxonMobil's long-term commitment to Angola, where the company has a significant presence in the oil and gas sectors. The Angolan government has been working to diversify the economy beyond oil and gas, and ExxonMobil has collaborated with the authorities to support the development of new sectors and energy sources. With long-term investment decisions like the expansion of Block 15, the company confirms its commitment to the economic and social development of Angola. ExxonMobil, a USA-based multinational, is one of the largest energy and petrochemical companies globally, with headquarters in Irving, Texas. It operates in several countries, maintaining a significant presence in the oil and gas sector, particularly in deepwater offshore a reas. The company has reinforced its position as a leading oil operator in Angola, with advances in its deepwater blocks and robust investments in the local economy. Block 15, operated by Esso Exploration Angola, remains at the center of ExxonMobil's operations in the country. The company holds a 40% stake in this block, which has a gross potential of four billion barrels. Since production began in 2003, over two billion barrels have been extracted from Block 15, with the block reaching 2.5 billion barrels produced by 2023. In recent years, the company's production has maintained significant values, with net production reaching 169 thousand barrels per day in 2016, including volumes from Block 17. ExxonMobil's projects, such as Kizomba Satellites (Phase 1) and Kizomba B, have made notable contributions to Angola's oil sector. The company invested around 1.5 billion dollars in local goods and services for Kizomba Satellites, while Kizomba B utilizes an FPSO with a storage capacity of 2.2 million barrels. T he company and its partners have recorded multiple commercial discoveries in Block 15 over the years, reinforcing its strategic role in the Angolan oil sector. Since the mid-2000s, ExxonMobil has allocated nearly $4 billion to local goods, services, and manufacturing initiatives, with the workforce growing from 12 workers in 1994 to around 700, two-thirds of whom are Angolans.
