ExxonMobil Starts Production from the Kizomba Satellites Project in Angola
•Phase 1 to produce approximately 100,000 barrels of oil per day
•Development to recover approximately 250 million barrels of oil
•Nearly $1.5 billion was spent on local goods and services for the project
Monday, July 9, 2012 5:00 am EDT
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NYSE:XOM.IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, Esso Exploration Angola (Block 15) Limited (Esso Angola), has started production from the Kizomba Satellites Phase 1 project offshore Angola.
The Kizomba Satellites initial phase is expected to ultimately produce 100,000 barrels of oil per day, and recover a total of approximately 250 million barrels from the Mavacola and Clochas fields, located 95 miles off the coast of Angola in water depths of approximately 4,500 feet.
“This project combines ExxonMobil’s project management expertise with local suppliers and businesses to maximize the value of Angola’s significant petroleum resources,” said Neil Duffin, president of ExxonMobil Development Company. “The Kizomba Satellites project was completed ahead of schedule and with industry-leading safety performance, as was the case with previous Block 15 developments.”
Phase 1 of the project will develop 18 wells with subsea tiebacks to the existing Kizomba A and B floating, production, storage and offloading (FPSO) vessels, optimizing the capabilities of on-block facilities to increase current production levels without requiring an additional FPSO vessel.
The Kizomba Satellites development has achieved a high level of Angolan content, with approximately $1.5 billion invested in local goods and services, including contracts for fabrication, logistics support and training and development of Angolan personnel. Angolan participation in Block 15 projects has increased significantly over time as local companies, working with ExxonMobil and the Block 15 Contractor Group, developed their capabilities to perform the work required for such complex projects.
“Nearly 100 percent of the topsides and subsea equipment were fabricated in Angola, and we have provided more than 10,000 hours of skill-based training to Angolan contractor personnel for the project,” said Stéphane de Mahieu, Esso Angola Managing Director.
ExxonMobil was awarded Block 15 in 1994 and, to date, has discovered a total of approximately 5 billion oil-equivalent barrels. First oil was produced from Block 15’s Xikomba field in 2003, followed by startups of Kizomba A in 2004, Kizomba B in 2005, and Kizomba C in 2008.
Other Block 15 developments include the Gas Gathering project, which commenced on-block gas handling in 2011 and is transporting associated gas to the Angola LNG facility in Soyo. Development planning continues for several of the remaining discovered resources at Block 15, including the Kizomba Satellites Phase 2 and the 2009 Mondo South discovery.
In addition to Esso Angola (Operator, 40 percent interest), other co-venturers in Block 15 are BP Exploration (Angola) Limited (26.67 percent), Eni Exploration Angola B.V. (20 percent) and Statoil Angola Block 15 AS (13.33 percent). Sonangol is the concessionaire.
CAUTIONARY STATEMENT: Statements in this release regarding future events and conditions are forward-looking statements. Actual future results, including production rates, resource recoveries and project plans, costs and timing, could differ materially due to changes in long-term oil and gas price levels or other market conditions affecting the oil and gas industry; political or regulatory developments; actual future reservoir performance; unexpected technical or operating events; the outcome of commercial negotiations; and other factors discussed under the heading “Factors Affecting Future Results” posted in the Investor Information section of our website (www.exxonmobil.com). References in this release to resource volumes, including barrels of oil, include quantities that are not yet classified as “proved reserves” under U.S. SEC definitions but that we believe will ultimately be produced.
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