Chevron finds oil, gas condensate offshore Angola

Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its ‌push to increase production in sub-Saharan Africa through infrastructure-led exploration, Report informs referring to Reuters.

Western and southern Africa are among regions drawing fresh attention as growth in US shale tops out.

Angola, sub-Saharan Africa's second-largest oil producer, introduced a presidential decree in late 2024 that included reforms and tax cuts ⁠aimed at making mature blocks more investible and spurring exploration.

The well in Angola's Lower Congo Basin encountered an oil and gas condensate column exceeding 600 meters in the Pinda reservoir, including more than 90 meters of net pay in what Chevron described as high-quality rock.

Block 0 is operated by Chevron subsidiary Cabinda Gulf Oil, which holds a 39.2% working interest.

Sonangol E&P has a 41% working interest, TotalEnergies 10% and Azule Energy 9.8%.