Chevron Makes Angola Oil Discovery

9 August 2009 (Last Updated August 9th, 2009 18:30)

Chevron has announced an oil and gas discovery off the coast of Angola. The discovery, in Block 0 adjacent to the Cabinda coastline of Angola, was drilled in 120m of water to a total vertical depth of 13,000ft, targeting the Upper Pinda formation. The company said that the 7

Chevron has announced an oil and gas discovery off the coast of Angola.

The discovery, in Block 0 adjacent to the Cabinda coastline of Angola, was drilled in 120m of water to a total vertical depth of 13,000ft, targeting the Upper Pinda formation.

The company said that the 79-3XST1 discovery well had a flow rate of 11.6 million cubic feet of natural gas and 2,550 barrels of liquid hydrocarbons a day, according to a Reuters report.

Chevron, through its local affiliate Cabinda Gulf Oil, has a 39% interest and is the operator of the Block 0 contractor group. Angolan state oil company Sonangol has a 41% stake, and affiliates of France's Total and Italy's Eni hold a 10% and 9.8% stake respectively.