Angola's National Oil, Gas and Biofuels Agency (ANPG), ExxonMobil and partners in Angola's offshore Block 15 on Wednesday announced a new oil discovery at the Vicango Este-01 exploration well.
The new discovery was made in Block 15, a deepwater offshore block that has been one of Angola's most productive oil-producing areas.
The well, located about 370 kilometres northwest of the capital Luanda, was drilled to a depth of 940 metres and encountered around 25 metres of high-quality sandstone containing hydrocarbons, the companies said in a joint statement.
The discovery is the 20th in Block 15, which has produced more than 2.7 billion barrels of oil over the past 30 years, the statement said.
"Block 15 has been one of Angola's most significant deepwater developments, and discoveries like this help increase the value of existing infrastructure while supporting future production opportunities," ExxonMobil Angola CEO Brian Unietis said.
Angola, Sub-Saharan Africa's second-biggest crude oil producer after Nigeria, has undertaken a major regulatory overhaul to encourage exploration investment as it looks to maintain production levels amid mature offshore fields.
(Reporting by Wendell Roelf; Writing by Nilutpal Timsina; Editing by Alexander Winning and Alison Williams)
