Chevron gains extension for block offshore Angola through 2050

Cabinda Gulf Oil Company Limited (CABGOC), an affiliate of Chevron in Angola, has secured an extension of the Block 0 concession, off the coast of Cabinda province in Angola.

Chevron stated on Monday that the agreement extends the concession for 20 years, through 2050. Under the renewed agreement, CABGOC will remain the operator with a 39.2 per cent interest on behalf of its partners Sonangol with a 41 per cent interest, TotalEnergies with a 10 per cent interest, and Eni with a 9.8 per cent interest.

“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,” said Billy Lacobie, managing director of Chevron’s Southern Africa Strategic Business Unit.

Block 0 is divided into Areas A and B, which together contain 21 fields. Located 24 km offshore Cabinda province in 60 m of water, Mafumeira Sul is the second stage of development of the Mafumeira field in Block 0, which started production in early 2017. The project includes a central processing facility, two wellhead platforms, approximately 121 km of subsea pipelines, 34 producing wells and 16 water injection wells.

In addition to Block 0, CABGOC operates and holds a 31 per cent interest in a production-sharing contract (PSC) for deepwater Block 14, located west of Block 0. In 2020, CABGOC’s net daily production averaged 89,000 barrels of liquids and 340 million cubic feet of natural gas.

Chevron also has a 36.4 per cent interest in Angola LNG Limited, which operates an onshore natural gas liquefaction plant in Soyo, in Zaire province. The plant has the capacity to process 1.1 billion cubic feet of natural gas per day. ALNG is the world’s first LNG plant supplied with associated gas, where natural gas is a byproduct of crude oil production. Feedstock for the plant originates from multiple fields and operators.