Chevron announces new discovery in Angola’s Block 14

10 August 2007

Houston, United States, 10 Aug – American oil company Chevron has announced a “significant” discovery in Angola’s offshore Block 14.

In a statement Thursday, Chevron said the Malange-1 well was drilled in December 2006 and tests in March 2007 revealed high-quality petroleum at a rate of 7,669 barrels per day.

Development of Block 14 began in 1997 and the contractor group is led by Chevron subsidiary Cabinda Gulf Oil Company, with a 31 percent shareholding in the venture. Other partners in the undertaking are Sonangol, ENI and Total, with a 20 percent state each, and Galp of Portugal with 9 percent of shares. (macauhub)