Chevron Strikes Oil Offshore Angola with Block 0 Discovery

Chevron has made an oil and gas condensate discovery in Block 0 offshore Angola, adding to its resources for growth. The company holds a 39.2% operating interest in the block, which also includes Sonangol (41%), TotalEnergies (10%), and Azule Energy (9.8%).

The discovery was made at the 105-4X exploration well in the Lower Congo Basin, where Chevron has been successful for over 70 years.

At the 105-4X well, Chevron encountered a 2,000-foot oil and gas condensate column with more than 300 feet of net pay. This is considered excellent reservoir quality.

The company plans to assess the discovery's potential for development as a tieback to its existing nearby infrastructure, providing a capital-efficient path to production.