Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to grow production in sub-Saharan Africa through infrastructure-led exploration. With growth in U.S. shale topping out, other regions are drawing fresh attention, including West and South Africa. Angola, sub-Saharan Africa’s second-largest oil producer, introduced a presidential decree in late 2024 that included reforms and tax cuts aimed at making mature blocks more investible and spurring exploration. The well in Angola’s Lower Congo Basin encountered an oil and gas condensate column exceeding 600 meters in the Pinda reservoir, including more than 90 meters of net pay in what Chevron described as high-quality rock. Block 0 is operated by Chevron subsidiary Cabinda Gulf Oil Company, which holds a 39.2 per cent working interest. (Reporting by Pranav Mathur in Bengaluru; Editing by Joyjeet Das)
