Chevron discovers offshore hydrocarbons anew in Angola

Chevron has been in Angola since the 1930s and holds an operating interest in two concessions, Block 0, off the coast of Cabinda province, and Block 14, in deep water. The energy major said the discovery builds on a successful exploration programme in sub-Saharan Africa, where it is producing around a net 300,000 barrels of oil equivalent per day.

The company plans to assess whether the discovery can be tied to nearby existing facilities to reduce costs and speed up production.

Chevron has expanded its regional acreage over the past year, adding offshore Nigerian blocks and securing interests in Guinea-Bissau and Equatorial Guinea.

It is also exploring several Angolan blocks and plans a multi-well programme across the region, including Namibia’s Nabba-1X, well before year-end.

(Reporting by Pranav Mathur in Bengaluru; Editing by Joyjeet Das)