By: Energy capital & power

Energy companies ExxonMobil, Azule Energy, Equinor and Sonangol E&P have signed an amended Production Sharing Contract (PSC) for Block 15, situated offshore Angola. The PSC extends the license to 2037, signaling further development of the remaining resources of the block. ExxonMobil is the operator of the block.

The amended PSC not only enables the extension of the asset’s production life but also the design life for the Kizomba A, Kizomba B, Mondo and Saxi-Batuque facilities. Aligning with Angola’s broader goals of revitalizing production at mature assets, the amended PSC will provide a boost to Angola’s production portfolio.

As one of Angola’s legacy assets, Block 15 has produced over 2.6 billion barrels of oil over a 30-year period. The block has also featured an investment of more than $47 billion, with $12 billion invested by ExxonMobil Alone. Additionally, $100 million has been invested in sustainable community initiatives. Block 15’s latest oil discovery was made in 2024 through the Likember-01 well.