ExxonMobil and Partners Discovered Oil in Block 15 Offshore Angola

epa05182306 A handout image dated 18 May 2008 and provided by Italian energy company ENI on 26 February 2016, showing a ENI oil platform off the coast of the Democratic Republic of Congo. ENI released their 4th quarter and full year 2015 results on 26 February 2016, saying 'in the Q4 2015, standalone adjusted operating profit from continuing operations was 0.86 billion euro, down by 64 per cent from the year before. For the full-year 2015, standalone adjusted operating profit from continuing operations was 4.1 billion euro, down by 7.34 billion euro or 64 per cent year-on-year.' EPA/CLAUDIO BRUFOLA / HANDOUT HANDOUT EDITORIAL USE ONLY/NO SALES

The Angolan National Agency of Oil, Gas and Biofuels (ANPG) reported the successful drilling of the Likembe-01 exploration well, located in the Kizomba B development zone, Block 15, operated by ExxonMobil in partnership with Azule Energy, Equinor and Sonangol.

Likembe-01 is located at a depth of 1200 meters, intersecting Miocene reservoirs and reaching a final depth of 3013 meters within the perimeter of the Kizomba B development area. The Likembe-01 exploration well is the first well drilled under the preliminary agreements for the additional production project.

ANPG and ExxonMobil, as operator of Block 15, signed a letter of agreement on May 7 in Luanda to reimburse additional exploration costs.

The incremental recovery project is a strategy aimed at maximizing the recovery of hydrocarbons from oil production concessions located offshore Angola; assumes successful oil exploration and expansion of the economic attractiveness of new projects both in mature fields and in territories that have not yet been developed.

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