Volume 2, issue #14 - 16-05-1997

sponsored by:

Chevron discovers oil in deep-water area offshore Angola

Apr. 29, 1997 Chevron has announced a significant discovery of crude oil in waters more than 1,300 feet deep off Angola, its first find in that country's emerging deep-water area.
The new discovery, designated well 14-2X, is the second of five wells planned in Block 14, offshore Cabinda Province. Block 14 is adjacent to the Chevron-operated Cabinda Concession, an established network of offshore oil fields and facilities in shallower waters closer to the Angolan coast.
"Early tests encountered a significant oil-bearing interval which suggests this could be a giant field, Chevron said"
Matzke noted that further appraisal of the discovery is required to confirm the oil reserves and to determine plans for development. Initial results indicate a combined flow rate of about 7,500 bpd. The 14-2X well was preceded by the 14-1X well, which also encountered hydrocarbons.
Chevron is the operator and holds 31 % interest in Block 14; Sociedade Nacional de Combusteiveis de Angola (SONANGOL), the Angolan national oil company, Agip Angola, and Total Angola each hold a 20 % interest. The remaining 9 % interest is held by Petrogal Angola.