Angola: Chevron Announces Oil And Gas Condensate Discovery Offshore

Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration, Reuters reported.

Angola, sub-Saharan Africa’s second-largest oil producer, introduced a presidential decree in late 2024 that included reforms and tax cuts aimed at making mature blocks more attractive to investors and encouraging exploration.

The well in Angola’s Lower Congo Basin encountered an oil and gas condensate column exceeding 600 metres in the Pinda reservoir, including more than 90 metres of net pay in what Chevron described as high-quality rock.

Block 0 is operated by Chevron subsidiary Cabinda Gulf Oil, which holds a 39.2% working interest. Sonangol E&P holds a 41% working interest, TotalEnergies has 10% and Azule Energy holds 9.8%.

Chevron has operated in Angola since the 1930s and has interests in two concessions: Block 0, off the coast of Cabinda province, and Block 14, in deep water.

The company said the discovery builds on its exploration programme in sub-Saharan Africa, where it produces about 300,000 barrels of oil equivalent per day on a net basis.

Chevron plans to assess whether the discovery can be tied into nearby existing facilities to reduce development costs and accelerate production.

The company has expanded its regional acreage over the past year, adding offshore blocks in Nigeria and securing interests in Guinea-Bissau and Equatorial Guinea.

It is also exploring several blocks in Angola and plans a multi-well programme across the region, including the Nabba-1X well in Namibia, before the end of the year.