Chevron Guinea-Bissau Exploration Ltd., a wholly owned subsidiary of Chevron, has acquired two offshore blocks — 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License) — each with a 90 % working interest.
This portal can confirm that Guinea-Bissau’s national oil company, Petroguin, holds the remaining 10 % working interest in the blocks.
The transaction has already received all required regulatory approvals, according to a statement issued by Chevron.
“Chevron is happy to begin a new chapter with Guinea-Bissau, in alignment with our exploration strategy of adding high-quality acreage to our global portfolio,” said Liz Schwarze, Chevron Vice President of Exploration, following a ceremony in Bissau with Petroguin’s General Director, Celedonio Vieira.
“We’re excited about our new partnerships with Petroguin and the Government of Guinea-Bissau following the signing of Blocks 5B and 6B,” said Beatrice Bienvenu, Chevron Country Manager, West Africa Frontier.
Chevron looks forward to working with Petroguin to advance exploration and contribute to the development of Guinea-Bissau’s energy sector.
Chevron is an experienced deep-water operator with activities across the world.
The company has increased its exploration portfolio by nearly 40 % over the last two years, including new country entries into Peru, Uruguay, and Namibia. Chevron has been a leading operator in Africa for nearly a century, with ongoing production and exploration activities in several countries across the continent, including Angola and Nigeria.
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