Chevron announces new oil discoveries in Cabinda, Angola

9 March 2006

San Ramon, United States, 09 March – Cabinda Gulf Oil (CABGOC), a subsidiary fo US oil company Chevron Corp, said Thursday it had “good results” for 5 oil wells in Angola in Bloc 0.

At Angola’s Bloc 0 de Angola, CABGOC is the operator and has a 39.2 percent stake in two areas – A and B – totaling 36 fields that in 2005 produced 119,000 barrels per day.

The 2,155 square mile concession is located in the province of Cabinda and in 2004 was extended by the Angolan government until 2030.

The consortium includes CABGOC with 39.2 percent, Sonangol with 41 percent, France’s Total with 10 percent and Italy’s ENI with the remaining 9.8 percent. (macauhub)