(Source: Wan Fahmy Redzuan / Shutterstock.com)
Exxon Mobil and partners have made a new hydrocarbon discovery in the offshore Bavuca Sul-1 exploration well off Luanda's coast, Angola's National Agency of Petroleum, Gas and Biofuels (ANPG) said on Nov. 7.
"The well encountered 98 feet [30 m] of high-quality sandstone containing hydrocarbons," ANPG said in a statement.
The well, located in Block 15 about 365 km northwest of the coast of Luanda, was drilled through a water sheet of 1,100 m, ANPG said.
"As operator of the Block, ExxonMobil is implementing new technology and multi-year drilling technologies and a multi-year drilling program and expects to produce approximately 40,000 bbl of oil per day, which will help offset natural production declines [elsewhere]," ANPG added.
Esso Exploration Angola (Block 15) Ltd., an Exxon Mobil subsidiary, is operator of Block 15 with a 36% stake. BP Exploration (Angola) Ltd. holds 24%, ENI Angola Exploration B.V. holds 18%, Equinor Angola Block 15 A.S. holds 12% and Sonangol P&P has 10%.
Recommended Reading
Arena Energy Acquires Cox Operating's GOM Shelf Properties
2023-01-25 - Arena Energy's acquired interests add to the company's ownership interest in the Eugene Island 330 and South Marsh 128 fields in the U.S. Gulf of Mexico.
Wintershall Dea to Invest Another $400 Million in Norway's Maria Oil, Gas Field
2022-11-15 - Moving forward, Wintershall Dea plans to drill new wells and install new subsea equipment to boost the field recovery.
Eni in Preliminary Talks to Buy Neptune Energy for $5-$6 Billion: Source
2022-11-30 - Neptune produces around 130,000 boe/d, three-quarters of which is gas. It has operations in Norway—home to Eni's Var unit—Britain, Indonesia—where Neptune shares licences with Eni—Algeria, the Netherlands and elsewhere.
Marathon Closes $3B Eagle Ford Buy From Ensign
2022-12-30 - Marathon Oil’s transaction, along with other Eagle Ford deals — and Chesapeake Energy Corp.’s efforts to sell its South Texas position — have put the play back in the M&A spotlight.
Devon Energy Lowers Q4 Outlook Due to Winter Weather Impact
2023-01-10 - Devon Energy's expected fourth quarter production fell by 15,000 boe/d to 636,000 boe/d due to negative weather impacts but has since restored the affected operations.