Chevron, through its subsidiary Cabinda Gulf Oil Company Limited (CABGOC), confirmed Monday an oil and gas condensate discovery offshore Angola.
The 105-4X exploration well in "Block 0," located in the prolific Lower Congo Basin offshore Angola, encountered an oil and gas condensate column of more than 600 meters in the primary Pinda reservoir, including more than 90 meters of net pay in high-quality reservoir rock.
The discovery will be evaluated for potential development as a tie-back to Chevron's nearby existing facilities, providing a capital-efficient path to production.
"This discovery is another important milestone for Chevron's over 70-year history in Angola," Vice President, Exploration, Chevron Kevin McLachlan, said in a statement.
"By combining high-impact exploration with infrastructure-led opportunities close to existing facilities, we are growing our resource base, creating value, and demonstrating that our strategy is delivering, as well as our continued confidence in Angola's resource potential," McLachlan added.
- Discovery strengthens Chevron's Sub-Saharan Africa portfolio
Block 0 is operated by CABGOC, which holds a 39.2% working interest, alongside Sonangol E&P with 41%, TotalEnergies with 10% and Azule Energy with 9.8%.
The discovery adds to Chevron's exploration portfolio in Sub-Saharan Africa, where it produces around 300,000 barrels of oil equivalent per day.
Chevron has expanded its regional portfolio over the past year, adding offshore acreage in Nigeria, Guinea-Bissau and Equatorial Guinea while recording three near-field discoveries in Nigeria since late 2024.
The company is also preparing a multi-well exploration program across the region, including the Nabba-1X well offshore Namibia before year-end.
By Duygu Alhan
Anadolu Agency
energy@aa.com.tr
