Mon. Jul 28th, 2025

Angola’s Block 15 Secures License Extension Until 2037, Reinforcing Production Portfolio

A consortium of major energy companies has successfully secured an extended license for Angola’s prolific Block 15, extending operations until 2037 and signaling continued development of the offshore asset’s remaining resources.

ExxonMobil, Azule Energy, Equinor, and Sonangol E&P have signed an amended Production Sharing Contract for Block 15, located in Angola’s offshore waters. ExxonMobil serves as the operator of this strategically important block.

The amended contract not only extends the asset’s production life but also enhances the design life for key facilities including Kizomba A, Kizomba B, Mondo, and Saxi-Batuque. This extension aligns with Angola’s broader strategy of revitalizing production at mature assets and provides a significant boost to the country’s overall production portfolio.

Block 15 stands as one of Angola’s most successful legacy assets, having produced over 2.6 billion barrels of oil during its 30-year operational history. The block has attracted substantial investment, with more than $47 billion invested overall, including $12 billion from ExxonMobil alone. Additionally, $100 million has been dedicated to sustainable community initiatives.

The block’s continued potential was demonstrated in 2024 with a new oil discovery through the Likember-01 well, proving that mature assets can still yield significant finds with proper exploration techniques and investment.

The license extension represents a vote of confidence in Angola’s regulatory environment and the continued commercial viability of its offshore oil resources.

Source: energycapitalpower.com

By Editor

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