Under this PSA, signed with the Governments of the Republic of Angola and the Democratic Republic of Congo (RDCongo), CABGOC, a subsidiary of Chevron in Angola, will be the operator of the concession with a 31 percent stake in the block.
According to the press release, to which Lusa had access, the consortium partners are Azule Energy, BP & ENI joint venture (20 percent), ETU Energias (20 percent), Galp (9 percent), Sonangol (10 percent) and Sonahydroc SA (10 percent).
The agreement was initialed in Luanda in the presence of the Minister of Mineral Resources, Oil and Gas of Angola, Diamantino Pedro Azevedo, and the Minister of Hydrocarbons of DRCongo, Didier Ntubuanga.
The ZIC is a zone of common interest created in 2007, located in the maritime zone between Angola and DRCongo.
Billy Lacobie, general director of Chevron's Strategic Business Unit in Southern Africa, quoted in the statement, expressed "great pride in continuing to be a steadfast and resilient partner in the region".
"This agreement is an opportunity to continue to partner with local governments and our associates to apply our pioneering exploration and production capabilities to the oil industry," he said.
CABGOC has a historical legacy of more than 65 years of operation in Angola.
