Chevron Strikes Oil in Angola's Block 0

Chevron has announced a major offshore discovery in Angola's Block 0. The company made the find at its 105-4X exploration well in the Lower Congo Basin, off the northern coast of Angola. According to Chevron, the primary Pinda reservoir found over 600 meters of hydrocarbon/condensate column with an estimated 91 meters of net pay.

Chevron's Vice President of Exploration, Kevin McLachlan, described the reservoir as being of 'excellent quality'. The company is assessing the discovery for development as a tie-back to existing facilities in the region. This could significantly lower capital expenditure and reduce time to market.

Chevron holds a 39.2% working interest in Block 0, with state-owned Sonangol E&P holding 41%, TotalEnergies holding 10%, and Azule Energy Angola Production holding 9.8%. The company currently produces 300,000 boepd in the region.