Chevron announced an oil and gas condensate discovery at the 105-4X exploration well. The well is located in Block 0, offshore Angola's Cabinda province.
Drilled in the Lower Congo Basin, the well encountered a column exceeding 600 meters (2,000 feet). It yielded over 90 meters (300 feet) of net pay in a high-quality reservoir.
The discovery marks a notable milestone in Chevron's 70-year history in Angola. Chevron will assess the find for potential development. The company plans to leverage nearby existing facilities for a capital-efficient tie-back.
Chevron's subsidiary, Cabinda Gulf Oil Company, operates Block 0. The subsidiary holds a 39.2% interest. Partners include Sonangol E&P (41%), TotalEnergies (10%), and Azule Energy (9.8%).