|Thursday, September 02, 1999
The deepwater discovery, named Xicomba, is the sixth made by Esso Exploration Angola (Block 15) Limited (Esso). The discovery encountered an oil bearing reservoir that flowed at a test rate of 1,435 barrels per day. The well was drilled in 4,445 feet of water to a total depth of 9,436 feet. Esso and Sonangol announced the Hungo, Kissanje, Marimba and Dikanza Block 15 discoveries during 1998 and the Chocalho discovery in June 1999. Xicomba is located 18 miles north of the Hungo discovery. All of the discovery wells are located approximately 230 miles northwest of Luanda. Block 15 represents a world-class development opportunity with recoverable reserves potential in excess of 2 billion oil equivalent barrels. The production concept for initial development on Block 15 is under evaluation. Including Block 15, Exxon affiliates have to date participated in 13 key announced deepwater discoveries offshore West Africa. In addition to Esso (40 percent), other participants in Block 15 are BP Exploration (Angola) Limited (26.67 percent), Agip Angola, Limited (20 percent) and Den Norske Stats Oljeselskap a.s. (13.33 percent).