Why ExxonMobil is spending $200 million to drill Angola's first offshore frontier exploration well in years

ExxonMobil is set to spend $200 million to drill what will be a closely watched exploration well by the end of 2024 in a frontier basin offshore Angola.

The US supermajor and its Angolan state-owned partner Sonangol P&P are set to spend about $200 million on further exploration studies and drilling the probe in the untouched Namibe basin.