ExxonMobil And ANPG Record Their 20th Discovery In Angola’s Block 15.

Angola’s National Oil, Gas and Biofuels Agency (ANPG), ExxonMobil and its Block 15 partners on Wednesday confirmed a new oil discovery at the Vicango Este-01 well, marking the deepwater block’s 20th discovery since production began, according to Oilprice.com, citing CNBC.

The well, located about 370 km (230 miles) northwest of Luanda, was drilled to a depth of 940 metres (3,084 feet) and encountered 25 metres of high-quality, hydrocarbon-bearing sandstone.

Block 15 has produced more than 2.7 billion barrels of oil over 30 years.

ExxonMobil Angola Chief Executive Brian Unietis described Block 15 as “one of Angola’s most significant deepwater developments” and said the new discoveries would increase the value of existing infrastructure, according to a joint statement.

The discovery comes three weeks after Chevron reported a find at its 105-4X well in neighbouring Block 0, where the company encountered more than 2,000 feet of hydrocarbons and 300 feet of net pay in the Pinda reservoir of the Lower Congo Basin.

Chevron is considering tying the discovery into existing Block 0 facilities rather than developing a standalone project.

The company has also made three near-field discoveries in Nigeria since late 2024 and plans to drill the Nabba-1X well in Namibia before the end of the year.

Angola’s state oil producer Sonangol, which holds stakes in several of the country’s offshore blocks, has faced financial pressures.

In June, it borrowed $2.65 billion from a bank syndicate to cover operating costs, in addition to a $1.75 billion facility from Afreximbank and a $750 million bond issued earlier this year.

Sonangol is seeking an additional $4.8 billion to finance its Lobito refinery and has scheduled a partial stock listing for 2027.

Angola is the second-largest crude oil producer in sub-Saharan Africa after Nigeria. Its oil output has stabilised at around 1.1 million barrels per day, down from a peak of more than 2 million bpd in 2008.

New fiscal terms and exploration incentives introduced by Luanda are encouraging renewed drilling in both mature and untested acreage, with the Vicango Este-01 discovery among the latest results.