ExxonMobil is considering investing up to $15 billion in Angola’s Namibe basin by 2030 following successful drilling campaigns. With 30 years of experience in the country, the company is focusing on developing oil and gas projects and increasing production at existing fields. ExxonMobil’s Lead Country Manager/Managing Director for Angola, Katrina Fisher, will provide an update on the company’s projects in Angola at the African Energy Week (AEW): Invest in African Energy conference in November.
The company has made 18 discoveries in Block 15 and is ramping up exploration and production activities to align with Angola’s goal of maintaining production above 1.1 million barrels per day through 2027. ExxonMobil currently produces 200,000 barrels daily across various blocks and is committed to supporting production growth in Angola.
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ExxonMobil is also focused on maximizing production at active oilfields in Angola, with recent discoveries in Block 15 supporting this effort. The company is actively participating in Angola’s Incremental Production initiative and aims to incentivize investment in producing fields through various fiscal terms.
Additionally, ExxonMobil is contributing to sustainable development in Angola through local content, Environmental, Social, and Governance initiatives. The company is involved in capacity-building efforts and launched the Africa STEM Program in Angola to promote STEM education for African students.
During the AEW: Invest in African Energy 2024 conference, Fisher will provide updates on ExxonMobil’s efforts in Angola and engage with industry stakeholders on future projects and opportunities for collaboration.
“Angola has become one of Africa’s largest oil producers, and ExxonMobil has played a significant role in this growth through investments, technology, and local empowerment. The company’s commitment to reinvesting in active oilfields is unlocking new opportunities for production growth in Angola,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.
At AEW: Invest in African Energy 2024, Fisher will participate in panel discussions focusing on investment opportunities in Angola’s oil and gas market. The conference will also feature a country spotlight on Angola’s energy sector, providing insights into block opportunities and industry priorities.
Distributed by APO Group on behalf of African Energy Chamber.