Angola: Chevron keeps investing in liquefied natural gas

The company’s deputy Executive chairperson, Jay Johnson, announced this Tuesday in Luanda.

The Chevron official said so at the end of an audience granted by Angola’s Vice President of Republic, Manuel Domingos Vicente.

With capacity to process 5.2 million metric tons/year, the US company has a 36.4 percent share at Angola LNG.

The manager told the press at the end of the meeting that Chevron’s production in Angola will keep going.

He announced very soon the beginning of production at the Mafumeira Sul Well, block zero in shallow water in northern Cabinda province.

The official said it is Chevron’s intention to continue investing in “fruitful projects with the possibility of better and efficient results” in Angola.

However, the official conditioned the implementation of the new investments to the revision of the fiscal terms, under debate with the national oil company “Sonangol”, as concessionaire, with the Angolan Government.

During the audience, the Vice President of the Republic evaluated with Chevron’s delegation in Angola, led by Jay Johnson, the opportunities of the company’s new investments in the country.

The meeting also served to introduce the company’s new chairperson for Africa and Latin America, Clay Neff, who is taking over from Ali Moshiri, set to retire in April.

Founded on September 10, 1879, Chevron, with headquarters in the United States, has been operating in Angola for about 60 years, through its subsidiary Cabinda Gulf Oil Company Limited.

In 2014, the operations in Angola had a daily average net production of 121,000 barrels of oil equivalent per day, or 114,000 barrels of liquid and 78 million cubic feet of natural gas.

Source: Angola Press News Agency