Chevron has discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, as part of its efforts to increase production in sub-Saharan Africa through infrastructure-led exploration.
Western and southern Africa are attracting renewed attention as growth in U.S. shale production slows. Angola, sub-Saharan Africa’s second-largest oil producer, introduced a presidential decree in late 2024 that brought in reforms and tax cuts to make mature blocks more attractive to investors and encourage further exploration.
The well in Angola’s Lower Congo Basin encountered an oil and gas condensate column of more than 600 meters in the Pinda reservoir. Chevron said the discovery also contains more than 90 meters of net pay in what it described as high-quality rock.
Chevron subsidiary Cabinda Gulf Oil operates Block 0 and holds a 39.2% working interest. Sonangol E&P holds 41%, TotalEnergies holds 10%, and Azule Energy holds 9.8%. Chevron has operated in Angola since the 1930s and currently holds operating interests in two concessions, Block 0 offshore in Cabinda province and Block 14 in deep water.
Chevron said the discovery adds to its successful exploration program in sub-Saharan Africa, where it currently produces around 300,000 barrels of oil equivalent per day on a net basis. The company will assess whether it can connect the discovery to nearby existing facilities to reduce costs and bring production online faster.
Chevron has expanded its regional acreage over the past year by adding offshore blocks in Nigeria and securing interests in Guinea-Bissau and Equatorial Guinea.
The company is also exploring several blocks in Angola and plans to carry out a multi-well program across the region, including the Nabba-1X well in Namibia, before the end of the year.
source: www.reuters.com
African Energy Council