Chevron confirmed a significant oil and gas condensate discovery at an exploration well in Block 0, offshore Angola. The well in the Lower Congo Basin encountered an oil and gas column exceeding 600 meters. The discovery includes over 90 meters of net pay in a high-quality reservoir.
This find supports Chevron's strategy to grow production in Sub-Saharan Africa as U.S. shale growth slows. The company plans to tie the discovery into existing nearby facilities to accelerate production and lower costs.
Chevron’s subsidiary operates Block 0 with a 39.2% working interest. Partners in the block include Sonangol, TotalEnergies, and Azule Energy.