ExxonMobil, along with TotalEnergies (as operator), Equinor, Azule Energy, and Sonangol, has agreed to extend the production sharing contract (PSC) for Angola’s Block 17 offshore oil field. This extension secures the future output of one of Angola’s most important oil assets and supports the country’s aim to keep production levels above one million barrels per day.
The African Energy Chamber (AEC), which represents the interests of Africa’s energy sector, welcomes the extension as a vital step toward maximizing value from existing mature fields and encouraging reinvestment. By continuing operations in these proven areas and exploring new offshore opportunities, international operators can help accelerate Angola’s oil and gas growth while improving returns from deepwater reserves.
Block 17 is a key asset for Angola, featuring major developments such as Dalia and CLOV, which have sustained significant production for over twenty years. The PSC extension ensures continued utilization of existing infrastructure and technical expertise, underscoring the importance of mature fields in maintaining output and attracting investments.
The AEC highlights ExxonMobil’s commitment to optimizing resources through the adoption of advanced technologies to enhance recovery rates. Under the guidance of Katrina Fisher, Managing Director of ExxonMobil Angola, the company has demonstrated a proactive approach aligned with national goals to sustain and grow oil production. Projects like CLOV and Dalia show how mature fields can remain competitive when paired with innovation and strategic investment.
Beyond Block 17, ExxonMobil is also advancing exploration in the Namibe Basin, covering Blocks 30, 44, and 45. This dual approach of maintaining mature fields while pursuing new discoveries strengthens Angola’s upstream sector and supports resilience amid the global energy transition.
The collaborative spirit of this PSC extension is also praised by the AEC. TotalEnergies has built a strong operational reputation as Block 17’s operator, working closely with ExxonMobil and other partners. This cooperation between international companies and Angola’s government is crucial for sustained growth and investor confidence. Additionally, Chevron’s recent agreements on ultra-deepwater Blocks 29 and 50 further demonstrate global industry trust in Angola’s oil potential. Together, these developments indicate that mature oil fields are being revitalized rather than phased out.
NJ Ayuk, Executive Chairman of the AEC, stated: “ExxonMobil’s leadership in legacy asset optimization and new exploration is vital to Angola’s continued success as a leading African oil producer. This PSC extension marks an important milestone for the country’s economy. The AEC remains committed to supporting policies and partnerships that foster energy independence, maximize resource value, and promote inclusive growth across Africa.”
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