ERHC Energy Inc (ERHE)

[RubyMartin]

ExxonMobil invests US$ 200 million in Angola’s offshore Bloc 15 [ 2006-09-18 ]


Luanda, Angola, 18 Sept – United States oil giant ExxonMobil is investing US$ 200 million in production equipment for the Saxi-Batuque undertaking in offshore Bloc 15, the company has announced.

The investment is on 16 underwater oil pipelines, to be produced and installed by Subsea 7 of the UK, a ExxonMobil said in a statement.

ExxonMobil predicts a total investment of US$ 10 billion over the coming years in Bloc 15, mainly in the extension of the Kizomba project, where it is the principal shareholder.

When completed, the Angolan project will produce more oil for the ExxonMobil than all of its projects in the United States.

Oilfields currently in production in Bloc 15, Xikomba and Kizomba A and B, have a combined production of around 500,000 bpd. (macauhub)