Chevron subsidiary in Angola announces further investments in oil exploration

7 February 2013

Angolan state oil company Sonangol and the Cabinda Gulf Oil Company Limited (Cabgoc) Tuesday in Luanda announced their final decision to invest in the Mamufeira Sul project in block zero off the Angolan coast.

According to the statement this will be the second stage of development of the Mamufeira field, located 24 kilometres from the coast of Cabinda province at a water depth of 60 metres.

The project includes 50 wells, two wellheads, processing facilities and around 121 kilometres of undersea pipelines.

The project, investment in which is expected to total US$5.8 billion, will start operating in 2015 and is expected to reach a maximum daily production of 110,000 barrels of liquid petroleum gas (LPG).

Cabgoc is the operator of block zero with a 39.2 percent stake and its partners are Sonangol (41 percent), Total Petroleum Angola Limited (10 percent) and ENI Angola Production B.V. (9.8 percent). (macauhub)