ExxonMobil Corporation is planning to invest $15 billion from now to 2030 if it makes discover of commercial quantity in the Namibe Basin.
This was made known in Luanda by the chairman for the Angola National Agency for Petroleum, Gas and Biofuels, ANPG, Paulino Jeronimo.
The ANPG, Exxon and state-owned Sonangol signed an addendum to blocks 30, 44, and 45 in the Namibe Basin to make exploration in the area more competitive. Exxon will pursue a potential exploration well in 2024 as a result of improved fiscal terms.
“We plan to leverage our advanced technology, project execution capabilities, and commitment to safety and environmental performance to identify new commercial discoveries in the Namibe Basin,” said Melissa Bond, Exxon’s country manager.