Chevron Strikes Oil and Gas Gold Offshore Angola
Chevron has made a significant oil and gas condensate discovery in Block 0 offshore Angola, according to a recent announcement. The exploration well, number 105-4X, drilled in the Lower Congo Basin, revealed an impressive hydrocarbon column of over 600 meters (1,969 feet) in the primary Pinda reservoir.
The discovery yielded more than 90 meters of net pay with 'excellent reservoir quality', indicating a promising find for the Houston-based energy giant. Chevron operates Block 0 with a 39.2 percent stake through Cabinda Gulf Oil Co Ltd and plans to assess the potential for development using existing nearby infrastructure.
The discovery will be evaluated alongside other exploration efforts in Angola, where Chevron continues to explore blocks 14/23, 33, 49, and 50. Last year, Angola contributed 58,000 barrels of oil equivalent per day to Chevron's net production, including 45 million cubic feet of gas.