Under the renewed agreement, CABGOC will remain the operator with a 39.2 % interest on behalf of its partners Sonangol with a 41 % interest, TotalEnergies with a 10 % interest, and Eni with a 9.8 % interest.
Billy Lacobie, managing director of Chevron’s Southern Africa Strategic Business Unit, said:
We 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
In addition to Block 0, CABGOC operates and holds a 31 % interest in a production-sharing contract (PSC) for deepwater Block 14, located west of Block 0.
In 2020, CABGOC’s net daily production averaged 89,000 barrels of liquids and 340 million cubic feet of natural gas.
Chevron also has a 36.4 % 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’s 1st LNG plant supplied with associated gas, where natural gas is a byproduct of crude oil production.
Feedstock for the plant originates from multiple fields and operators.