Angola: Chevron to increase daily production to 620,000 barrels

6 February 2009

Luanda, Angola, 06 Feb – North American company, Chevron is to increase its daily petroleum production from 520,000 to 620,000 barrels to the end of 2009, once the Tombwa/Landana field in block 14 of the “Angolan offshore” starts operations, said Angolan news agency Angop.

The agency quoted the advisor for the direction of operations of blocks 0 (zero) to 14, Cesaltino Pedro, who, in statements to the Economia & Mercado magazine, said that the field would have a production capacity of 100 thousand bpd, having had an investment of US$1 billion in seismic work, prospecting, boring and the implementation of the project.

Until 2010 it is estimated that the investments of Chevron and its partners will total over US$10 billion.

Among the new oil projects, the construction of a liquefied natural gas plant in Soyo, capable of processing 5 million tons per year, is particularly significant.

Chevron is one of the biggest oil companies in the world and in Angola it is developing production projects in Cabinda and Soya (Zaire Province). (macauhub)