Continental Focus, International Reach

Angola and ExxonMobil Sign MoU

Monday, December 17, 2018

Angola’s state-run oil company and supermajor ExxonMobil signed a MoU for oil exploration. The US firm is looking at acreage in Angola’s Namibe basin.

According to Sonangol Chairman Carlos Saturnino, the MoU paves the way for the two companies to start contract negotiations for new oil concessions.

ExxonMobil said the new field of exploration could be viewed as the resurgence of oil activity in the country.