Chevron inks offshore Equatorial Guinea PSCs

June 21, 2024
Deepwater Sub-Saharan is fast emerging as a key area of focus for Chevron, according to energy analytics firm Welligence Energy Analytics.

Offshore staff

SAN RAMON, California — Chevron has signed two production sharing contracts (PSCs) for the EG-06 and EG-11 blocks with Equatorial Guinea for deepwater exploration acreage, according to energy analytics firm .

Chevron will operate the blocks with partner Gepetrol. 

The acreage, formerly operated by Exxon Mobil, is near the Zafiro Field. Chevron already operates the Alen and Aseng fields offshore Equatorial Guinea. 

Earlier this week, Chevron signed two risk service contracts for the ultradeepwater blocks 49 and 50 offshore Angola in partnership with Sonangol, . The acreage will be Chevron’s first operated acreage south of the Congo River and outside its core Cabinda and Block 14 areas.

Back in April, Chevron Namibia Exploration agreed to assume an 80% operated interest in PEL 82 in the Walvis Basin offshore Namibia. And late last year, Chevron New Energies signed a memorandum of understanding with the Angolan government to investigate lower carbon business opportunities in Angola.

"Following moves since October 2022 to acquire exploration acreage in Namibia’s Orange and Wavis Basins, Sub-Saharan deepwater is fast emerging as a key area of focus for Chevron,"