ExxonMobil plans expansion into Namibe basin
With production declining at its existing Angola assets, the major acquires three licences off the country’s south coast
ExxonMobil has signed risk service agreements (RSAs) to become the operator of Namibe deepwater blocks 30, 44 and 45 two years after penning a memorandum of understanding to explore the basin. The RSAs—signed with the Angolan National Oil, Gas and Biofuels Agency (ANPG) and NOC Sonangol—differ slightly from production-sharing contracts, with the latter usually awarded following formal licensing rounds, whereas the ExxonMobil agreement was an ad hoc deal. “The taxes and some terms are different,” says Adam Pollard, a senior upstream analyst at consultancy Wood Mackenzie. At a news conference announcing the deal, ANPG president Paulino Jeronimo predicted more contracts would soon be signed w
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
