The Venus well is located approximately 175 kilometres off the Angolan coast in water depths of 2,000 metres. Venus is the fifth exploration well and fourth discovery announced in Block 31 following the Plutao, Saturno and Marte discoveries, which lie some 10 to 15km from Venus.

ExxonMobil now has more than thirty-five discoveries on Blocks 15, 17, 31 and 32, representing significant additions to the company's resource base in Angola, currently estimated at more than 11.5 billion oil-equivalent barrels (gross).

ExxonMobil holds a 25% interest in Block 31 with coventurers BP Exploration (operator) 26.67%, Sonangol 20%, Statoil Angola a.s. 13.33%, Marathon Petroleum Angola Block 31 10% and Total subsidiary EPA 5%.