Luanda - Chevron Angola Friday presented the Lifua project to the President of the Republic, João Lourenço, during an audience at the Presidential Palace, in Luanda.
This is the project for the construction of the first oil platform in national territory (Cabinda), with the name “Lifua A”.
Estimated at USD60 million, the platform plans to drill oil wells in Block 0 and is expected to create 300 direct jobs.
In brief statements to the press at the end of the meeting, the outgoing director-general of Chevron in Angola, Derek Magness, said that the occasion also served to present to President João Lourenço the project to transport natural gas to Lobito, Benguela province.
Derek Magness highlighted the fact that the two projects are linked to oil and gas exploration, in addition to creating jobs for young people.
He stressed that the meeting with the Angolan Head of State also served to introduce Chevron's new executive director in Angola, Billy Lacobie.
On behalf of the company's management, the outgoing director expressed "profound thanks" to the Angolan Head of State, for the support provided in the framework of the activity carried out in Angola by the multinational.
Chevron Activity in Angola
Chevron's presence in Angola dates back to the 1930s when Texaco products were introduced to the country's market.
Currently, through its subsidiary Cabinda Gulf Oil Company Limited (CABGOC), the company explores resources in two concessions.
The first is Block 0, off the coast of Cabinda province, and the second is Block 14 in deep waters.
The multinational also has non-operating interests in the "Angola LNG Limited" project, a plant in Soyo, Zaire province, whose annual production of Liquefied Natural Gas is around 5.2 million metric tons.
Chevron reached a very important milestone in Angola in 2015. It is the production of 5 (five) billion barrels produced in Blocks 0 and 14.
In 2020, the average daily net production was 89,000 barrels of liquids and 340 million cubic feet of natural gas.
