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ExxonMobil’s Project Portfolio, Commitment to Science, Technology, Engineering, and Mathematics (STEM) to Bolster Growth in Angola

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ExxonMobil

Through a strong pipeline of oil and gas projects and various community development initiatives, ExxonMobil continues to support long-term growth in Angola

LUANDA, Angola, June 13, 2024/APO Group/ — 

ExxonMobil could inject as much as $15 billion into the development of Angola’s hydrocarbon reserves by 2030, following the success of commercial oil discoveries in the southern African country. The energy major is developing a series of large-scale projects and is committed to supporting community development through capacity building and outreach programs aimed at improving STEM-related opportunities. These endeavors are poised to strengthen the Angolan oil and gas industry while bolstering industrialization and broader economic growth.

This week, the African Energy Chamber – led by Executive Chairman NJ Ayuk – met with company leaders from ExxonMobil as part of a working visit to the country. During the meeting, the parties discussed the government’s efforts in opening up the sector and how fiscal policies have made doing business in Angola that much more competitive. ExxonMobil – celebrating 30 years of operations in Angola – has been at the forefront of many large-scale developments in the country, and the major’s renewed focus on infrastructure-led exploration; local content development; and investments in STEM will unlock new opportunities for the country. 

ExxonMobil’s rich production history in Angola underscores both the country’s oil and gas potential and the company’s commitment to spurring development in Africa. Considered a golden block, the company’s deepwater Block 15 in Angola represents one of the most successful offshore concessions in the region, with 18 commercial discoveries made. Producing for 20 years, the block hit a milestone of 2.5 billion barrels of cumulative oil production in 2023. This year, ExxonMobil made an oil discovery at the Likember-01 research well in the block. The operation, which took place in the Kizomba B development area, revealed the existence of high-quality hydrocarbon-bearing sand packages. The find follows a discovery made in 2022 at the Bavuca South-1 exploration well in Block 15, which formed part of a redevelopment plan to deliver 40,000 barrels per day (bpd) of new oil production.  

The development area is operated by ExxonMobil and developed in partnership with Angola’s state-owned Sonangol and international energy companies Equinor and Azule Energy. The Likembe-01 well is the first to be drilled as part of a broader incremental production initiative, which is spearheaded by Angola’s national concessionaire, the National Oil, Gas and Biofuels Agency and aims to increase output at already-producing concessions in the country. ExxonMobil also has an 20% participating interest in Block 17, a 15% participating interest in Block 32 and continues to operate Blocks 30, 44 and 45 in the Namib Basin, offshore Angola, with a 60% participating interest in the three blocks. This month, ExxonMobil surpassed a production level of 200,000 bpd. This represents significant materiality, a key condition for establishing Angola as a competitive oil province as well as positioning the country as a top performer in the company’s global portfolio.

The AEC commends the progress ExxonMobil continues to make in promoting women in energy, STEM-related education and economic growth in Angola

Going forward, the company is committed to drilling in the Namibe basin, with plans to invest $200 million to drill an offshore frontier exploration well by the end of 2024 in partnership with Sonangol. The campaign aims to uncover new oil and gas reserves in Angola’s underexplored acreage and, if successful, the supermajor could inject as much as $15 billion into the development of the basin by 2030. The development of a large commercial discovery is poised to result in revenue of between $20 billion and $40 billion for the country, which will serve to promote socioeconomic development, economic diversification and local content and community advancement.

“ExxonMobil’s investment in Angola continues to grow because of the enabling environment that the government continues to create for the industry. The government is making sure that the country remains competitive – especially in terms of fiscals – and is significantly improving market attractiveness for companies. This enables world-class project developments and the AEC commends the government for laying this strong foundation,” stated Ayuk.

Apart from oil and gas development, ExxonMobil is a strong advocate for STEM-related education in Angola. The company is committed to advancing opportunities for Angolan people in this area and strives to address challenges related to STEM education in the country. Specifically, the company aims to create opportunities for girls and women in STEM. During the AEC-ExxonMobil meeting, the parties discussed the critical role investments in STEM play in the country and how the company is spearheading efforts to promote education. Additionally, the parties outlined the vital role of women in the energy sector. For its part, ExxonMobil has been at the forefront of promoting gender equality in the industry. Industry leaders such as Melissa Bond, former Country Manager for Angola at ExxonMobil, and Katrina Fisher, Lead Country Manager/Managing Director for Angola at ExxonMobil, have championed these endeavors. During the upcoming AEW: Invest in African Energy conference this November (4-8), the AEC aims to bring women in energy and STEM discussions to the main stage, highlighting the importance of these topics.

Meanwhile, ExxonMobil has been outspoken in its philanthropic efforts in Angola. In May, ExxonMobil and the National Basketball Association (NBA) Africa announced the launch of a new Jr. NBA League in Luanda. The new league will feature 40 boys’ and girls’ teams for youths in the country aged 16 and under. The league is set to reach as many as 10,000 youth participants in 2024. The league will culminate with the playoffs and finals in September this year and will feature all-girls basketball clinics as part of the NBA’s Her Time to Play initiative – providing opportunities for girls to play the game and pursue careers in coaching and athletic leadership.

“The AEC commends the progress ExxonMobil continues to make in promoting women in energy, STEM-related education and economic growth in Angola. The company has been a champion of these critical issues and the AEC looks forward to working closely with the company to support the next generation of oil, gas and science in Africa,” concluded Ayuk.

Distributed by APO Group on behalf of African Energy Chamber.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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