Chevron Strikes Oil in Angola's Lower Congo Basin

Chevron has made a significant oil and gas discovery in Angola's Lower Congo Basin. The US energy major discovered an oil and gas condensate column exceeding 600 metres in the Pinda reservoir at the 105-4X exploration well in Block 0.

The discovery was made as part of Chevron's push to expand production in sub-Saharan Africa through infrastructure-led exploration. The company has not disclosed the estimated value or recoverable volumes of the discovery, but says it will evaluate whether the resource can be connected to nearby production facilities, allowing for potential development through a tie-back project.

Chevron's vice-president Kevin McLachlan said that this discovery is another important milestone for the company's over 70-year history in Angola. He noted that by combining high-impact exploration with infrastructure-led opportunities close to existing facilities, Chevron is growing its resource base and creating value.