ExxonMobil Makes Discovery of High-Quality Oil Offshore Angola

ExxonMobil. Bigstock

In a statement, ANPG revealed that the major “encountered 98 feet of high-quality sandstone containing hydrocarbons.”

According to Liam Mallon, President of ExxonMobil Upstream Company, the discovery falls under efforts by the company to implement a series of new technologies and drilling solutions to exploit the country’s rich basins which remain fully untapped. “ExxonMobil is optimizing this resource and creating value for the Angolan people,” stated Mallon.

The block in which the discovery has been made is operated by ExxonMobil with a 36% stake whilst bp holds a 24% share, Eni a 18% stake and Equinor a 12% share and Sonangol a 10% stake.

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Onur Yilmaz

Onur Yilmaz

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