Chevron, Angolan government assessing potential lower carbon projects

Offshore staff

LUANDA, Angola — Chevron New Energies has signed a memorandum of understanding with the Angolan government to investigate lower carbon business opportunities in Angola.

Cabinda Gulf Oil Co. (CABGOC), Chevron’s E&P subsidiary in Angola, hosted the signing. The planned cooperation will assess projects related to nature-based and technological carbon offsets, lower carbon intensity products (e.g., hydrogen and CCS), and will also investigate the formation of a regional center to incentivize and attract lower carbon investments.

CABGOC operates the offshore block 0 and 14 concessions, agreeing last year to renew operatorship of Block 0 for a further 20 years. The company produced 70,000 bbl/d of liquids and 259 MMcf/d of natural gas in 2022.

11.14.2023