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Chevron is increasing its exploration presence throughout West Africa, marking the area as a key focus space following an settlement to discover two deepwater offshore blocks in Guinea-Bissau’s MSGBC basin.
The brand new acreage — Blocks 5B and 6B — lies inside the Mauritania-Senegal-Gambia-Bissau-Conakry (MSGBC) basin, an space that has drawn heightened worldwide curiosity after main oil and gasoline discoveries equivalent to Sangomar and Higher Tortue Ahmeyim (GTA).
In response to Reuters, Chevron’s native subsidiary will function each blocks with a 90% working curiosity, whereas Petroguin, Guinea-Bissau’s nationwide oil firm, will retain the remaining 10%. The blocks cowl deep to ultra-deepwater zones, the place Chevron will start decoding present 2D and 3D seismic knowledge to guage potential prospects.
“West Africa stays a strategic area for Chevron,” mentioned Liz Schwarze, vice chairman of exploration, throughout remarks on the African Power Week convention in Cape City. “We proceed to hunt extra high-quality acreage throughout the basin, with a give attention to oil alternatives.”
Schwarze added that the corporate’s entry into Guinea-Bissau aligns with its broader international technique of pursuing high-return standard exploration alternatives. Whereas Chevron’s preliminary research will middle on seismic interpretation, drilling timelines haven’t but been decided, Reuters reported.
The announcement underscores Chevron’s continued curiosity within the MSGBC basin, considered one of Africa’s most lively rising frontiers, as the corporate strengthens its regional portfolio alongside established operations in Nigeria and Angola.
See additionally: TotalEnergies, Chevron push for sooner permits, superior seismic knowledge in Africa
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