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.
Under the terms of the MoU, the partners have committed to drilling up to 20 additional wells in the Jubilee field, with investments totalling up to $2 billion over the life of the licences. The partners expect a material increase in gross 2P (proven and probable) reserves, while new measures will also aim to boost gas supply and reduce costs to consumers.