Chevron has 26 per cent market share in Angola

Chevron, a major multinational energy corporation, has announced its participation as a platinum sponsor in the Angola Oil & Gas (AOG) 2024 conference, Angola's premier oil and gas event. The conference will take place on October 2-3 in Luanda.

Chevron remains committed to increasing production and promoting sustainable oil and gas development in the country.

It currently holds a 26 per cent market share in Angola, with interests in offshore Blocks 0 and 14, which have a combined daily production capacity of 70,000 barrels of liquids and 259 million cubic feet of natural gas.

The company has over 70 years of presence in Angola.

Chevron's expertise in deepwater operations is expected to support production growth in Angola, and its recent signing of a Production Sharing Agreement for Block 14/23 demonstrates its continued commitment to the region.

Its initiatives in Angola extend beyond upstream activities, as the company is also involved in infrastructure projects such as the Sanha Lean Gas Connection Project (SLGC), valued at $300 million.

This endeavour aims to address a projected supply gap at the Angola LNG facility by developing a platform that connects Block 0 and Block 14 to the LNG plant.

Chevron is also spearheading low-carbon oil and gas solutions in Angola.

The company's Angolan subsidiary, Cabinda Gulf Oil Company (CABGOC), has signed an MoU with the government to explore low-carbon business opportunities, including the utilisation of nature-based and technological carbon offsets, as well as lower-carbon intensity biofuels like hydrogen.

Additionally, Chevron and the Angolan government intend to assess various projects related to carbon capture and storage and the establishment of a regional center of excellence for attracting lower-carbon investments.