Luanda, Angola, 8 Feb – US oil company Chevron this year plans to invest US$1 billion on prospecting and drilling for oil in Angola, in order to boost its daily production to 1 million barrels per day by 2010, the company’s chief executive in Angola said Wednesday in Luanda.

Speaking on the sidelines of a ceremony to lay the first stone for the construction of Chevron’s new headquarters in Luanda, James Blackwell said that the company had made and would continue to make big investments in blocs 0 and 14.

According to Angolan news agency Angop, Chevron’s new headquarters, work on which is estimated to cost US$70 million, will cover an area of 35,000 square meters. The work, which is being carried out by Portuguese company Teixeira Duarte, is projected to take three years.

in Angola, Chevron – Cabinda Gulf Oil Company (Cabgoc) is the operator of blocs 0 and 14, located in the Cabinda enclave and employs over 2,500 Angolan workers, representing 88 percent of the total workforce. (macauhub)