This story falls under Bucket A, new discoveries and appraisal results, as Chevron reports a new oil and gas condensate find in Block 0 offshore Angola. The exploration well encountered a hydrocarbon column of more than 600 meters in the Pinda reservoir and more than 90 meters of net pay.
Chevron said reservoir quality was excellent and will assess a tieback to nearby infrastructure. Cabinda Gulf Oil Company operates Block 0 for Chevron with a 39.2 percent stake. Angola’s national oil company holds 41 percent, TotalEnergies owns 10 percent, and Azule Energy holds 9.8 percent.
Mafumeira Sul began production in 2017 and carries potential recoverable resources of 300 million barrels of oil equivalent. Chevron lists capacity at 150,000 barrels of liquids per day and 350 million cubic feet of gas per day. That installed base gives the partners a possible route to develop the discovery without building a standalone production system.
Angola supplied 58,000 barrels of oil equivalent per day to Chevron’s net production last year, including 45 million cubic feet of gas per day. Chevron also continues to explore blocks 14/23, 33, 49 and 50 in the country. The new find gives the group another prospect that could feed existing assets if appraisal supports commercial development.