| ExxonMobil Celebrates 15 Years of Operations in Angola |
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07/11/2009 13:30 (13 Day 14:18 minutes ago) | |||||
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The FINANCIAL -- Exxon Mobil Corporation2 (NYSE:XOM) affiliate Esso Exploration Angola (Block 15) Limited (Esso Angola) is celebrating 15 years of safe and successful operations in Angola3.
Esso Angola and its venture partners in Block 15 have worked with the government of Angola to maximize the value of the country’s resources, creating long-term benefits for the Angolan people.
The block surpassed one billion barrels in cumulative production in September and is currently producing over 600,000 barrels of oil per day. It is currently the single largest producing block in the country, and since 1994, the company and its co-venturers have announced resource discoveries totaling nearly 5 billion oil-equivalent barrels.
“We are proud of Block 15’s impressive record of safe, reliable operations and its contribution to economic development in Angola,” said Andy Swiger, senior vice president for ExxonMobil. “We look forward to our continued partnership with the government of Angola and to being a part of the country’s very promising future.”
Esso Angola has applied world-class technologies4 to move Block 15 hydrocarbon development from front-end engineering and design to production as quickly and cost-effectively as possible. This included the installation of five massive floating production, storage and offloading vessels (FPSOs), two wellhead tension leg platforms, and a complex network of subsea components. It also involved significant technical training, development and jobs for Angolans and the purchase of local goods and services.
Continued oil development in Block 15 is progressing, and a project to deliver associated gas from oil production to the Angola LNG development is under way.
Esso Angola contributes5 to community health, education, and infrastructure projects across Angola. Over the past five years, Esso Angola, Block 15, and ExxonMobil have invested more than U.S. $40 million in support for health-care programs that combat the spread of malaria6 and HIV/AIDS. Other programs support educational and vocational-technical training opportunities for women and girls7 in Angola. The Esso Angola health-care and education programs earned recognition from the U.S. State Department in 2008. Additionally, Esso Angola, Block 15 and the ExxonMobil Foundation support a project to help protect the Giant Sable Antelope, which until a few years ago was believed to be extinct.
Esso Exploration Angola (Block 15) Limited is the operator of Block 15 with 40 percent interest. The other co-venturers are BP Exploration (Angola) Limited (26.67 percent), ENI Angola Exploration B.V. (20 percent) and Statoil Angola Block 15 A.S. (13.33 percent). Sonangol E.P. is the concessionaire.
Cautionary Statement: Statements regarding future events or conditions in this release are forward-looking statements. Actual future results, including project plans, could differ materially due to changes in long-term market prices of oil and gas; changes in law or government regulation; the outcome of commercial negotiations; unforeseen technical difficulties; and other factors discussed under the heading "Factors Affecting Future Results" on the Investors section of ExxonMobil's website. References in this release to resources and oil-equivalent barrels include quantities of oil and gas that are not yet classified as proved reserves under U.S. SEC regulations, but that we believe will ultimately be produced.
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