Fossil Energy – Production Sharing
ExxonMobil, in partnership with operator TotalEnergies, Equinor, Azule Energy and Sonangol, has signed a production-sharing contract (PSC) extension for Block 17, one of Angola’s most prolific offshore oil blocks.
The agreement secures the long-term viability of a key pillar of Angola’s hydrocarbon sector.
Block 17 has played a pivotal role in maintaining Angola’s oil output above 1 million barrels per day (bpd), hosting major developments such as Dalia, CLOV, Girassol, and Pazflor.
For over two decades, TotalEnergies and its consortium have transformed the block into a cornerstone of the country’s energy production, leveraging cutting-edge deepwater technologies and infrastructure.
The PSC extension allows partners to maximise value from mature fields through enhanced recovery methods and further investment. Continued access to existing infrastructure will enable cost optimisation and help extend the productive life of the block well into the next decade.
The renewal also underscores Angola’s commitment to ensuring investor confidence and securing long-term energy revenues.
