Current XOM Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Partnership seeks to redevelop offshore asset
ExxonMobil (stock ticker: XOM) has entered into a production sharing agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels in order to further invest in the country’s offshore Block 15.

Exxon's Angola assets as of year end 2018 (source: Exxon 2018 financial and operating report)

As part of the agreement, Angola’s state oil company – Sonangol – will receive a 10% equity interest. The breakdown of the other parties to the agreement, which has been extended through 2032, is as follows:

Esso Angola: 36%
BP Exploration: 24%
ENI Angola Exploration: 18%
Equinor Angola: 12%

 

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