Chevron\u2019s affiliate in Angola, Cabinda Gulf Oil Company Limited (CABGOC) announced today the successful extension of the Block 0 concession, off the coast of Cabinda province, in Angola. The agreement extends the concession for 20 years, through 2050. Under the renewed agreement, CABGOC will remain the operator with a 39.2 percent interest on behalf of its partners \u201cSociedade Nacional De Combustiveis De Angola \u2013 Empresa P\u00fablica (Sonangol EP) with a 41 percent interest, TotalEnergies EP Petroleum Angola (Total) with a 10 percent interest, and Eni Angola Production B.V. (Eni) with a 9.8 percent interest.<\/p>\n
\u201cWe are pleased with the opportunity to continue to partner with the government of Angola and our Block 0 associates to apply our industry-leading exploration and production capabilities in Angola, where we have had a presence for more than 60 years,\u201d said Billy Lacobie, managing director of Chevron\u2019s Southern Africa Strategic Business Unit. \u201cWe are proud to have played a significant role in the development of the country\u2019s oil and gas industry, and we look forward to continuing to help provide reliable, affordable, ever-cleaner energy that enables human progress and powers Angola forward.\u201d<\/p>\n
In addition to Block 0, CABGOC operates and holds a 31 percent interest in a production-sharing contract (PSC) for deepwater Block 14, located west of Block 0. In 2020, CABGOC\u2019s net daily production averaged 89,000 barrels of liquids and 340 million cubic feet of natural gas.<\/p>\n
Chevron also has a 36.4 percent interest in Angola LNG Limited, which operates an onshore natural gas liquefaction plant in Soyo, in Zaire province. The plant has the capacity to process 1.1 billion cubic feet of natural gas per day. ALNG is the world\u2019s first LNG plant supplied with associated gas, where the natural gas is a byproduct of crude oil production. Feedstock for the plant originates from multiple fields and operators.<\/p>\n","protected":false},"excerpt":{"rendered":"