ChevronTexaco's Angolan affiliate, Cabinda Gulf Oil Co., discovered a ninth significant well in Angola's deepwater block 14.
The latest find - Negage - is 29 mi southwest of the existing Gabela discovery and was drilled in 4,738 ft of water. The well encountered 320 ft of hydrocarbon column, which produced more than 8,630 b/d of 33? API oil during a drill stem test. This latest discovery will be followed by geologic and engineering studies to assess its reserve potential.
"The exploration and production assets in ChevronTexaco's Africa portfolio are of great importance to the company's strategy to grow value," said George Kirkland, president of ChevronTexaco Overseas Petroleum Inc. "Block 14 continues to be a tremendous asset for ChevronTexaco and its partners and this latest discovery is a further success for our deepwater Angola program," Kirkland added.
Negage is the latest in a string of block 14 discoveries dating back to the 1997 Kuito discovery, which was followed by Landana, Benguela and Belize, Tomboco and Lobito, Tombua, and Gabela.
Cabinda Gulf Oil Co. is operator of block 14, with a 31% interest, Sonangol P&P 20%; Agip Angola Exploration B.V. 20%; Total Angola 20%, and Petrogal Exploration 9%.
12/26/02
