Chevron Extends Block 0 Concession in Angola

U.S. multinational energy corporation Chevron has announced the extension of its concession for Block 0 offshore Angola. Under the new agreement – received by the company’s wholly owed subsidiary Cabinda Gulf Oil Company (CABGOC) – Chevron will extend the concession for 20 years, with CABGOC as the operator.

Located off the coast of Cabinda province, Chevron’s partners for Block 0 – Sonangol (41%, TotalEnergies (10%) and ENI (9.8%) – remain unchanged, with CABGOC holding a 39.1% interest in the Block.

“We are pleased with the opportunity to continue to partner with the government of Angola and our Block 0 associates to apply our industry-leading exploration and production capabilities in Angola, where we have had a presence for more than 60 years,” stated Billy Lacobie, Managing Director of Chevron’s Southern Africa Strategic Business Unit.

Divided into Areas A and B, Block 0 contains 21 fields of which some are already in production. The Block represents a lucrative destination, holding significant potential.

“We are proud to have played a significant role in the development of the country’s oil and gas industry, and we look forward to continuing to help provide reliable, affordable, ever-cleaner energy that enables human progress and powers Angola forward,” Lacobie continued.

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Charné Hundermark

Charné Hundermark

Charné Hundermark is the Deputy Editor at Energy Capital & Power. She holds a Higher Certification in Professional Photography and an Honours degree in Media Theory and Practice. She is also currently completing her Masters in Media Studies.

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