ExxonMobil’s Katrina Fisher to Present Angolan Exploration, Production Updates at AEW 2024

African Energy Week: Invest in African Energy 2024 serves as Africa’s premier deal-making platform, fostering collaboration among industry players and African governments.

Katrina Fisher, ExxonMobil’s Lead Country Manager/Managing Director  for Angola

Following the outcomes of ongoing drilling campaigns, ExxonMobil, a prominent energy corporation, is considering a potential investment of up to $15 billion in Angola's Namibe basin by the year 2030. With a presence in the country spanning three decades, the company is actively engaged in the development of several large-scale oil and gas projects while simultaneously implementing initiatives aimed at optimizing production at existing fields. Katrina Fisher, ExxonMobil's Lead Country Manager/Managing Director for Angola, will present an update on the company's project portfolio in Angola during the upcoming African Energy Week (AEW): Invest in African Energy conference scheduled for November.

ExxonMobil is significantly increasing its exploration and production activities in Angola, with a particular focus on Block 15, where the company has made 18 discoveries. This aligns with the national objective of maintaining oil production above 1.1 million barrels per day until 2027. Currently, ExxonMobil produces 200,000 barrels daily across various promising blocks, including Blocks 15, 17, 32, 30, 44, and 45. Notably, the company achieved a significant milestone in 2023 by reaching 2.5 billion barrels of cumulative production at Block 15. ExxonMobil remains committed to supporting Angola's production growth objectives..

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ExxonMobil is making great strides towards maximizing production at active oilfields in Angola. In line with the country’s Incremental Production initiative – which aims to incentivize investment in producing fields through amended fiscal terms – the company made a discovery at the Likember-01 research well in Block 15 this year. Situated in the Kizomba B development area, the well revealed the existence of high-quality hydrocarbon-bearing sand packages and was the first to be drilled as part of the Incremental Production program. The discovery follows another find made at the Bavuca Sul-1 exploration well in November 2022, both of which underscore additional potential at Block 15. Fisher will provide an update on ExxonMobil’s efforts to revitalize output at producing fields in the southern African nation at the AEW: Invest in African Energy 2024.

Alongside upstream projects, ExxonMobil is contributing to sustainable development in Angola through local content, Environmental, Social and Governance initiatives and capacity-building efforts. In June 2024, the ExxonMobil Foundation launched the Africa STEM Program in Angola, part of a $300 million project to promote STEM education for approximately 3,000 African students across Nigeria, Namibia, Angola and Mozambique. 

The program aims to equip 1,000 Angolan students with essential skills to thrive in the STEM industry. Additionally, ExxonMobil and its Block 15 partners sponsor the Eco-Youth Program, offering vocational training to over 600 girls in Angola’s Benguela and Luanda provinces in areas such as electrical installation, environmental sustainability, IT training and welding. During the AEW: Invest in African Energy 2024 conference, Fisher will not only provide insight into strategies for advancing sustainable oil and gas development in Angola but engage with regional and global players on future projects and collaborative opportunities.

“Angola has transformed from a nascent explorer into one of Africa’s largest oil producers. ExxonMobil has contributed significantly towards the growth of the Angolan energy market through large-scale investments, innovative technologies, infrastructure development and a commitment to local empowerment. Notwithstanding the value of producing projects, the company’s commitment to reinvesting in active oilfields is beginning to unlock new opportunities for production growth in Angola, showing the value of directing capital towards maximizing output,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

During AEW: Invest in African Energy 2024, Fisher will participate in panel discussions around investment opportunities in Angola’s oil and gas market. This year’s conference will also feature an Invest in Angola Energies country spotlight, providing direct insight into the country’s block opportunities, ongoing projects and national industry priorities.