The information was provided by the President of the National Petroleum and Biofuel Agency, Paulino Jerónimo, at the signing ceremony of the Memorandum of Understanding between ANPG, Sonangol P&P and ExxonMobile, regarding Blocks 30, 44 and 45 of the Namibe Basin.
Paulino Jerónimo said that in the event of a commercial discovery in the aforementioned well, it is estimated that investment of US$15 billion will be invested in the evaluation and development of the large-scale discovery, with production expected to start in 2030.
He referred that the estimated revenue for the State, from the development of a single large commercial discovery, could vary from 20 to 40 billion dollars, if one considers a conservative analysis price that varies between 50 and 60 dollars/barrel.
On his turn, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said that “for the Angolan Government, it is an important moment because it is part of the actions to maintain the stability of oil production in the country, with reflection on the development and improving the quality of life of populations”.
The official also considered the vital importance of oil for the planet and asked for more attention to environmental issues.
“Without the hydrocarbons and other resources that the country has, it will be difficult for us to achieve development, fight poverty and even energy. The Government of Angola will continue to take steps to attract more investments in the exploration, development and production of hydrocarbons in the country”, he pointed out.
The managing director and president of ExxonMobile in Angola, Melissa Bond, congratulated MIREMPET’s efforts for signing the Memorandum of Understanding and reinforced the company’s achievement in oil exploration in the country.
The consortium is made up of the companies EXXONMOBIL (60 percent) and Sonangol P&P (40 percent).
