The Angolan subsidiary of ExxonMobil Extends Production Sharing Contract for Block 15

The Angolan subsidiary of U.S.-headquartered energy major ExxonMobil and its consortium partners have secured an extension of a production sharing contract (PSC) for a block offshore Angola.

Thanks to an addendum to the PSC for deepwater Block 15, the production period has been extended until 2037. Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) signed the deal with ExxonMobil Angola, which is the operator, and its partners Azule Energy (a joint venture between Eni and BP), Equinor, and Sonangol E&P.

Pending a final investment decision (FID), this will also enable the extension of the design life of the four floating production storage and offloading vessels (FPSOs) working at the field – Kizomba A, Kizomba B, Mondo, and Saxi-Batuque, to develop the block’s remaining resources.

According to Katrina Fisher, President of ExxonMobil Angola, the company has invested more than $12 billion in the PSC during 30 years, with over 2.5 billion barrels of oil produced. In 2023, the field’s average daily production was 21,000 barrels of oil equivalent per day.

“This milestone represents not only the extension of our asset’s production life, but is a celebration of the remarkable partnership between our company, the government of Angola, our valued Block 15 partners, and the people of Angola,” noted Fisher.

Situated approximately 145 kilometers off the northern coast of Angola, the block started producing in 2003. According to Equinor, the first production from Phase 1 of the Kizomba satellite project was achieved in May 2012, followed by Phase 2 coming on stream in May 2015.

An extension for another PSC in Angola, for deepwater Block 15, was recently secured by a group comprising the same four companies plus TotalEnergies, which is the block’s operator.