TotalEnergies, ExxonMobil sign deal for exploration offshore Angola

LUANDA, February 19, 2025 – TotalEnergies and ExxonMobil have signed an agreement with Angola’s National Oil, Gas and Biofuels Agency (ANPG) to explore the Free Areas of blocks 17/06 and 32/21, local and international sources reported on Wednesday.

The companies will conduct studies on the deeper areas of the blocks. If results are promising, the ANPG will finalise concession contracts for both blocks.

Block 17, operated by TotalEnergies, has been producing since 2001 and currently features six FPSO vessels. Block 32, operated by TotalEnergies with a 30% interest, holds 13 discoveries totalling around 1 billion barrels of oil. It is home to the 230,000-bpd Kaombo development, which has been operational since 2018.

The partners of both blocks are keen to identify new leads and expand exploration efforts across these areas.

The deal is the latest indicator of Angola’s growing appeal for upstream investment. The government has been initiating regulatory improvements to attract more operators.

In November 2024, the government launched the Incremental Production Initiative through Presidential Decree 8/24. This initiative offers tax incentives and legal support for investments in mature offshore blocks. Early success has been seen with ExxonMobil’s Likember-01 discovery in Block 15, marking the first well drilled under the initiative.

For more on ExxonMobil’s plans in Angola, read our latest interview with Katrina Fisher, lead country manager of ExxonMobil Angola, here.

In comments on Wednesday’s deal quoted by Energy Capital & Power, TotalEnergies Angola managing director Martin Deffontaines underlined the partners’ combined strengths.

“We have the ambition to identify targets that can be drilled quickly. Thanks to our experience, knowledge of the area and the fruitful collaboration of our teams, I am confident that TotalEnergies and ExxonMobil are in the best position to write a new chapter,” he said.

Read our latest interview with Martin Deffontaines here.

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