ExxonMobil Angola and its partners have made a new hydrocarbon discovery at the Bavuca South-1 exploration well offshore Angola.

The Bavuca South-1 well forms part of the Angola Block 15 redevelopment project.

As part of the project, ExxonMobil is undertaking new technology installation and a multi-year drilling programme at Block 15 to achieve a production capacity of approximately 40,000 barrels of oil per day (boepd).

The latest discovery marks the 18th discovery in Angola Block 15.

Following the drilling of the well in 1,100m of water using the Valaris DS-9 rig, the partners identified 30m of ‘high-quality’ hydrocarbon-bearing sandstone. The discovery is located approximately 365km north-west off the coast of Luanda.

ExxonMobil Upstream Company president Liam Mallon said: “ExxonMobil is optimising this resource and delivering value to the people and government of Angola, our Block 15 partners, and our shareholders.

“Our development strategy continues to deliver, providing affordable energy to meet increasing global demand while reducing emissions. In Angola, we have reduced greenhouse gas emissions by 74% since 2016.”

Esso Exploration Angola (Block 15), an affiliate of ExxonMobil, operates Block 15 with a 36% interest.

Other partners include BP Exploration (Angola) (24%), Eni Angola Exploration (18%), Equinor Angola Block 15 (12%), and Sonangol P&P (10%).

The National Agency for Petroleum, Gas, and Biofuels (ANPG) is the concessionaire for Block 15.

In a separate development, Exxon Mobil plans to commence seismic surveys in two blocks southwest of the Peloponnese peninsula and the island of Crete, Greece, in the coming days, reported Reuters, citing Greece Prime Minister Kyriakos Mitsotakis.

Mitsotakis was quoted by the news agency as saying during an interview with Greece’s Ant1 TV: “Our country, regardless of its focus on a fast green transition, is obliged to explore if it has the potential to mine natural gas, which will contribute to our country’s energy security and Europe’s.

“These surveys will begin by ExxonMobil in the coming days.”

Earlier this year, Mitsotakis said the country plans to accelerate its exploration plan for gas reserves to reduce dependence on Russian gas.