Chevron begins oil exploration in Belize field, Angola

26 January 2006

San Ramon, California, United States, 16 Jan – US group Chevron Corp. said Wednesday that its subsidiary Cabinda Gulf Oil (CABGOC) had begun oil production in the Belize field, in Bloc 14, Angola.

The Benguela, Belize, Lobito and Tomboco oil fields make up the BBLT complex, of Chevron’s “Big 5” projects.

The BBLT complex is located around 80 kilometers from the Angolan coast and a depth of 396 meters.

The Belize field is part of Bloc 14, where the Kuito field has been in production since December 1999.

The second phase of the project, which includes the Lobito and Tomboco fields are due to go into production in July this year.

Chevron is the operator of Bloc 14 with 31 percent of the capital. The remaining companies involved in the bloc are Sonangol Pesquisa e Produção, ENI Angola Exploration and TotalFinaElf Exploration & Production Angola each with a 20 percent share and Galp – Exploração e Produção Petrolífera with 9 percent.

As well as Bloc 14, Galp Energia is also involved in Bloc 33 (5 percent) and Bloc 32 (5 percent) and onshore it has a 20 percent stake in the Central Cabinda Bloc.

With the start of production in the Belize field Galp Energia will double its daily oil production from 5,000 to 10,000 barrels.

The company’s objective is, in the medium-term, to have its own production of 80,000 to 100,000 barrels of oil per day, corresponding to 30 percent of Galp’s refinery capacity, the company has said. (macauhub)

MACAUHUB FRENCH