Exxon Mobil Announces 11th Discovery on Angola Block 15

Exxon Mobil Corporation announced that its subsidiary, Esso Exploration Angola (Block 15) Limited (Esso), has made a deepwater oil discovery, its eleventh oil find on Angola Block 15.

The discovery well, named Vicango-1, was drilled in 3,199 feet of water to a total depth of 6,890 feet by Transocean Sedco Forex's semisubmersible, M G Hulme Jr. It is located approximately 193 miles northwest of Luanda.

Esso and Sociedade Nacionale de Combustiveis de Angola (Sonangol), the state oil company of Angola, have previously announced ten Block 15 discoveries, with the Hungo, Kissanje, Marimba and Dikanza discoveries during 1998, the Chocalho and Xicomba discoveries in 1999, the Mondo, Saxi, and Batuque discoveries in 2000, and the Mblumbumba discovery in 2001.

Block 15 represents a world-class development opportunity with recoverable hydrocarbon potential in excess of 3.5 billion oil equivalent barrels. Planning for multiple developments is underway with the first due to come on stream in 2004.

In addition to Esso (Operator, 40 percent), other participants in Block 15 are BP Exploration (Angola) Limited (26.67 percent), Agip Angola Exploration B.V. (20 percent) and Statoil (13.33 percent).Including Block 15, ExxonMobil subsidiaries have to date participated in 25 key announced deepwater discoveries offshore West Africa.


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