ExxonMobil, Azule Energy, Equinor and Sonangol E&P have signed an amended production-sharing contract (PSC) for Block 15 offshore Angola during a ceremony with the National Oil, Gas and Biofuels Agency on Friday.
The agreement extends the licence to 2037, supports the further development of the block’s remaining resources and prolongs the production and design life of the Kizomba A, Kizomba B, Mondo and Saxi-Batuque FPSOs.
Block 15, one of Angola’s most significant legacy assets, has produced more than 2.6 billion barrels of oil over the past three decades and attracted over USD 47 billion in investment, including USD 12 billion from ExxonMobil alone. An additional USD 100 million has been allocated to sustainable community development.
The block’s latest discovery was made in 2024 through the Likember-01 well. The amended PSC is part of Angola’s wider strategy to revitalise output from mature assets and reinforce its production portfolio.
Source: theenergyyear.com