Chevron Strikes Oil in Angola With Major Condensate Discovery

American oil major Chevron has announced an oil and gas condensate discovery at the 105-4X exploration well in Block 0, offshore Angola.

The discovery is operated by Chevron's wholly owned subsidiary Cabinda Gulf Oil Company Limited.

Chevron's vice president of exploration Kevin McLachlan described the reservoir quality as 'excellent' and said that the early results are encouraging.

The company will now determine whether it can be developed using nearby facilities, which often becomes more competitive when tied to existing infrastructure.