ExxonMobil Secures 12-Year Extension for Prolific Angolan Block 15
US energy major ExxonMobil has successfully extended its license for Angola’s highly productive Block 15 until 2037, marking a significant milestone in the company’s three-decade presence in the region.
The Houston-headquartered company has extracted over 2.5 billion barrels of oil from the asset since receiving the original award in 1995, working alongside partners including Azule Energy, Equinor, and Sonangol E&P.
According to ExxonMobil’s own accounts, the company and its partners have invested over $47 billion during the past 30 years, building a solid business foundation supported by strong safety culture and efficient, low-cost operations. Additionally, they have invested over $60 million in sustainable community initiatives throughout Angola.
The license extension was formalized through an addendum to the Production Sharing Contract (CPP) signed by the National Agency of Petroleum, Gas and Biofuels (ANPG), ExxonMobil, and Block 15 partners. The agreement extends the production license until 2037 while allowing for the extension of the useful life of the Kizomba A, Kizomba B, Mondo, and Saxi-Batuque facilities, subject to Final Investment Decision approval.
During the signing ceremony in Luanda on July 10, 2025, Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, reflected on the reform process initiated in 2017 when oil production outlook appeared pessimistic. He noted that Angola’s production has remained above 1 million barrels, demonstrating the success of the implemented reforms.
“We are in 2025, and our production remains above 1 million barrels. There was fear that we would lose investors to competition from several oil-producing countries. And today, they are still with us! No one has left,” Azevedo declared.
Source: africaoilgasreport.com
