Angola’s latest oil discovery in Block 15 has strengthened hopes of extending production from one of the country’s most important offshore assets, with ExxonMobil and its partners recording the 20th find in the block.

The Vicango Este-01 exploration well encountered about 25 meters of high-quality sandstone containing hydrocarbons, adding another potential resource to a block that has produced more than 2.7 billion barrels of oil over the past 30 years.

The discovery comes as Angola faces a growing challenge from mature offshore fields and seeks new investment to maintain crude production. The government has introduced regulatory changes aimed at encouraging more exploration and development across its oil sector.

The well was drilled to a depth of 940 meters (3,085 feet) about 370 kilometers (230 miles) northwest of Luanda, Angola’s National Oil, Gas and Biofuels Agency, ExxonMobil and Block 15 partners said in a joint statement Wednesday.

Why the Block 15 discovery matters

The latest find gives Angola another opportunity to extract value from existing offshore infrastructure rather than relying solely on new developments.

“Block 15 has been one of Angola’s most significant deepwater developments, and discoveries like this help increase the value of existing infrastructure while supporting future production opportunities,” ExxonMobil Angola CEO Brian Unietis said.

Block 15’s production record makes the discovery particularly significant for Angola’s oil industry. More than 2.7 billion barrels have already been produced from the block, highlighting its role in the country’s crude supply.

Angola seeks to protect oil output

Angola is sub-Saharan Africa’s second-largest crude oil producer after Nigeria, but declining output from mature offshore fields has increased pressure on the government to attract fresh exploration spending.

New discoveries such as Vicango Este-01 could help replenish resources and support future production as Angola works to keep its oil industry competitive.

The government’s regulatory overhaul is part of a broader effort to encourage international oil companies to invest in exploration and extend the life of existing petroleum assets.

ExxonMobil and its partners operate in Angola’s offshore sector, where deepwater projects remain central to the country’s strategy for sustaining oil production and export revenues.