Exxon Mobil to exploit oil in Angola’s Namibe Basin

ANGOLA- Angola’s National Oil and Gas Agency (ANPG) has signed an agreement with US oil company Exxon Mobil, for the exploration of crude oil in Blocks 40, 44 and 45 in the Namibe Basin.

The agreement was signed by the chairman of the board of ANPG, Paulino Jerónimo and Exxon Mobil general director in Angola, Andre Kosteinik.

Speaking at the event, Paulino Jerónimo, Chairman of ANPG said that the act was part of the implementation of Angola 2020/2025 hydrocarbon exploration strategy recently approved by the Government.

The plan aims to re-launch large-scale exploration activity with the aim of assessing oil potential, replacing reserves, and stabilising oil production in Angola.

Kosteinik said that the strategy also approved access to new exploration areas ranging from the blocks in the ultra-deep areas of the Kwanza Basin which passes through the onshore area of the Namibe Basin culminating in the inland basins that cover the provinces of Cunene, Cuando Cubango, part of Moxico, Malanje and Uige, covering an area of around 600,000 square kilometres.

Paulino Jerónimo said that this agreement will generate hundreds of jobs that will be important for young people.

He added that other contracts would be signed in the near future with other operators that would provide services in the Kwanza and Congo basins.

On his part, the director general of Exxon Mobil oil company in Angola, Andre Kosteinik, said that oil exploration in the Namibe Basin would contribute to the local economy by generating jobs, improving infrastructures and increasing the living quality of Namibe families.

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