According to a statement from the National Oil, Gas and Biofuels Agency (ANPG), the new discovery was made in the Bavuca Sul-1 exploration well, which is part of the redevelopment project for Block 15.
The document notes that the well encountered 30 meters (98 feet) of high quality sandstone containing hydrocarbons, having been drilled through a water depth of 1100 meters (3608 feet) by the Valaris DS-9 drillship.
"As operator of the Block, ExxonMobil is implementing new technologies and a multi-year drilling program, forecasting to produce around 40,000 barrels of oil per day, which will contribute to offset natural production declines," the note said.
In Block 15, 17 discoveries were previously made, namely Hungo, Kissanje, Marimba and Dikanza, in 1998, Chocalho and Xikomba, in 1999, Mondo, Saxi and Batuque, in 2000, Mbulumbumba, Vicango and Mavacola, in 2001, Reco-Reco in 2002, and Clochas, Kakocha, Tchihumba and Bavuca, in 2003.
The chairman of the ANPG board of directors, Paulino Jerónimo, quoted in the statement, welcomed this discovery and its significance.
"Angola continues, in fact, to have oil potential and the ANPG and its partners will continue to do everything they can to make this a productive and profitable sector", he stressed.
In turn, the President of ExxonMobil Upstream Company, Liam Mallon, highlighted that the US multinational is optimizing this resource and creating value for the Angolan people, the Government of Angola, its partners and its shareholders".
Liam Mallon highlighted that ExxonMobil's development strategy continues to deliver positive results, providing affordable energy to meet the world's growing demand for energy, while reducing its emissions.
"In Angola, since 2016, we have already reduced greenhouse gas emissions by up to 74 percent," he said.
Esso Exploration Angola (Block 15) Limited, a subsidiary of ExxonMobil, is the operator of Block 15 with a 36 percent stake.
BP Exploration (Angola) Limited holds 24 percent, ENI Angola Exploration B.V. owns 18 percent, Equinor Angola Block 15 A.S. holds 12 percent and Sonangol P&P holds 10 percent.
