Chevron Strikes New Oil and Gas Discovery in Angola's Block 0

Chevron announced a new oil and gas discovery in Angola's Block 0, located in the Lower Congo Basin. The find was made at an exploration well using the ADES Shelf Drilling Tenacious rig.

The well encountered over 2,000 feet of oil and gas condensate column, including more than 300 feet of net pay. Chevron's Vice President of Exploration, Kevin McLachlan, stated that the early results are encouraging and additional work will help determine the resource's full potential and possible development opportunities.

The discovery is part of Chevron's broader exploration campaign across Sub-Saharan Africa, with additional activity planned in Namibia, Nigeria, Guinea-Bissau, and Equatorial Guinea. The company currently produces around 300,000 barrels of oil equivalent per day net in the region.