Ver Angola

Energy

American Chevron wants to explore new investment opportunities in Angola

Chevron, an American multinational, wants to increase its investments in Angola. The interest was expressed by Chevron’s Chairman of the Board of Directors (PCA) and CEO, Mike Wirth, who said that the company wants to “strengthen its position in the energy market by exploring new investment opportunities for the development of the sector in Angola”.

: CIPRA
CIPRA  

Mike Wirth, who was speaking as part of a meeting with the President of the Republic, João Lourenço, which took place this Sunday at the Presidential Palace, in Luanda, highlighted that the reforms and changes carried out in the energy sector "make the country much more competitive".

On the occasion, he said that they were "very hopeful about the future", especially in the area of ​​gas exploration: "We are very hopeful about the future, specifically with regard to gas exploration", he said, quoted in a statement from CIPRA, to which VerAngola had access.

According to the person in charge, the company currently has, "with partners, a daily production of 250 thousand barrels of oil and 250 cubic feet of gas".

At the meeting with the head of state, the CEO of Chevron was accompanied by several members of the board of directors of the company, which is celebrating its 70th anniversary.

"We had this opportunity to bring our board of directors so that they could see for themselves the development and growth not only of the country, but also of our investments in Angola," he said, quoted in the statement.

At the moment, Chevron, through its subsidiary Cabinda Gulf Oil Company Limited (CABGOC), is exploring "resources in Block 0, off the coast of Cabinda province, and in Block 14 in deep waters", and also holds "non-operational interests in the Angola LNG Limited project".

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