Chevron confirms oil and gas find in Angola's Block 0

Chevron Corporation (NYSE: CVX), through its subsidiary Cabinda Gulf Oil Company Limited (CABGOC), confirmed an oil and gas condensate discovery at the 105-4X exploration well in Block 0, offshore Angola.

The well, drilled in the Lower Congo Basin, encountered an oil and gas condensate column of more than 600 meters (2,000 feet) in the primary Pinda reservoir, with more than 90 meters (300 feet) of net pay. Chevron said the discovery will be assessed for potential development as a tie-back to existing nearby facilities.

Block 0 is operated by CABGOC, which holds a 39.2% working interest. Co-owners include Sonangol E&P (41%), TotalEnergies (10%), and Azule Energy (9.8%).

Kevin McLachlan, Vice President of Exploration at Chevron, said: "This discovery is another important milestone for Chevron's over 70-year history in Angola. By combining high-impact exploration with infrastructure-led opportunities close to existing facilities, we are growing our resource base, creating value, and demonstrating that our strategy is delivering, as well as our continued confidence in Angola's resource potential."

Chevron said it currently produces around 300 thousand barrels of oil equivalent per day net across Sub-Saharan Africa. The company has expanded its exploration footprint in the region over the past 12 months, including farming into two offshore blocks in Nigeria — PPL2000 and PPL2001 — and receiving a deepwater block, PPL2010, in Nigeria's latest bid round. Three near-field exploration successes in Nigeria have also been recorded since late 2024.

In Guinea-Bissau, Chevron secured three blocks, including the newly acquired Block 4B, which closed Aug. 13, 2026. In Equatorial Guinea, the company secured five-block reconnaissance licenses. Chevron also cited ongoing exploration activity in Angola's Blocks 49 and 50, Block 33, and Block 14/23.

The company said it is preparing a multi-well exploration program across the region, including the Nabba-1X well on PEL90 in Namibia before year-end.

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