ExxonMobil announced Thursday that its subsidiary firm has started oil production ahead of schedule at the Kizomba Satellites Phase 2 project offshore Angola.
The U.S. oil giants's subsidiary, Esso Exploration Angola Limited has started oil production ahead of schedule at Block 15, which was awarded to ExxonMobil in 1994.
The company has discovered some 5 billion oil-equivalent barrels, while oil production has exceeded 1.8 billion barrels until today.
The recent project develops approximately 190 million barrels of oil with peak production projected at 70,000 barrels of oil per day, ExonMobil said in a statement on its website.
Daily production of the project is estimated to increase to 350,000 barrels, while almost $740 million has been invested in Angola for the project, said the statement.
Esso Exploration Angola Limited is operator of the project and has 40 percent interest in Block 15, while BP Exploration Angola Limited has 26.67 percent, Eni Exploration Angola BV has 20 percent, and Statoil Angola Block 15 AS owns 13.33 percent. Angola's Sonangol is the concessionaire in the project.
By Ovunc Kutlu
Anadolu Agency
ovunc.kutlu@aa.com.tr