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Asset Development
The Asset Development (AD) team is responsible for managing the development, exploration and subsurface operations in the SASBU.
It maximizes value by supporting SASBU to:
- Unearth new opportunities for portfolio and production growth
- Convert resources to reserves
- Deliver major capital projects
- Mitigate declines in base production and generate a sustainable replacement ratio
- Effectively commercialize large gas resources
Block 0 is Angola's most prolific concession, having produced over 3 billion barrels of oil to date. Drilling began in Block 0 in 1966 with the first well discovering Limba Field. Since then, 24 fields have been discovered and have gone on production and fifteen other fields have been discovered and await initial production. Production averages approximately 400,000 BOPD and plans are to boost that production to 500,000 BOPD and higher in the next few years. Chevron operates the Block with a 39.2% working interest. Partners are Sonangol, the Angolan national oil company, with 41%, Total with 10%, and ENI with 9.8%.
The Block 14, Cabinda (Angola) exploration permit was awarded in 1995. A Chevron subsidiary, Cabinda Gulf Oil Company Limited (CABGOC), operates this block on behalf of the Block 14 Contractor Group. The Contractor Group consists of CABGOC (31%), Sonangol P&P (20%), ENI (20%), Total (10.2%), INPEX (9.8%), and GALP (9%). The block covers an area of over 4000 sq km located in the Lower Congo Basin, offshore Angola, in water depths ranging from 200m to 2000m. The modern-day Congo River canyon transects Block 14 and attains depths of up to 1500m. To date, a resource base of over 1 Billion bbls of recoverable oil has been discovered in over 15 different reservoirs, all of which are now incorporated into Development Areas. Production from the block began in 1999 from the Kuito field. Kuito has produced over 150MMbbls of heavy oil to date to the Kuito FPSO, Angola's first deepwater production facility. Block 14's second producing hub, the Benguela-Belize-Tomboco-Lobito (BBLT) compliant tower, started production in 2006 and was followed by the Tombua-Landana (TL) hub in 2009. BBLT was West Africa's first compliant tower and is one of the tallest structures in the world.