Exxon, Sonangol sign Namibe Basin MoU

Angola

LUANDA, December 17, 2018 – ExxonMobil and Sonangol have signed an MoU on exploring blocks in the Namibe Basin, the Angolan NOC announced Friday.

The companies intend to sign risk service agreements for blocks 30, 44 and 45, Sonangol added in a statement.

“2018 was marked by many promises and changes that are welcome,” the country manager of ExxonMobil’s local arm, Esso Exploration Angola, Andre Kostelnik, said.

Angola is pushing to promote oil exploration in the country. In October, Angolan Minister of Mineral Resources and Oil Diamantino Azevedo said the government is planning a new bid round in 2019.

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