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Angola, Exxon Mobil, Partners Make Offshore Hydrocarbons Discovery

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Angola's national agency for oil, gas and biofuels has announced that together with partners Exxon Mobil Angola (XOM) and others working on development in its Block 15, they had found a hydrocarbons in the Vicango Este-01 exploratory well, it said in a statement.

Sited about 370 kilometers offshore to the northeast, the well was drilled to a depth of 940 meters by the Valaris DS-9 platform. It found an area about 25 meters deep containing hydrocarbons, marking the 20th such discovery in the block in the last three decades. The agency said there was potential for more finds.

Block 15 is operated by Exxon Mobil affiliate Esso Exploration Angola, which has a 36% stake. Other owners are Azule Angola Limited with 24%, Azule Angola BV with 18%, Equinor's (EQNR) unit in Angola with 12% and Sonangol E&P with 10%.

Price: $164.51, Change: $+3.80, Percent Change: +2.36%

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