Chevron signs offshore exploration deal in Angola’s Congo Basin

Angola

LUANDA, September 4, 2025 – Chevron has signed a preliminary agreement with Angola’s hydrocarbons concessionaire, the National Oil, Gas and Biofuels Agency, to explore offshore Block 33/24 in the Congo Basin, the company said on Wednesday.

Block 33/24 lies in deep waters adjacent to blocks 17 and 32, both historically productive offshore areas with proven hydrocarbons potential. No timeline or financial details were disclosed. The contract is structured as a risk services contract and remains subject to regulatory approvals.

In Angola, Chevron operates through its subsidiary Cabinda Gulf Oil Company and holds stakes in key offshore blocks, including Block 0 and Block 14. The company is one of the country’s oldest upstream partners and has been active in Angola for more than 60 years.

Chevron said the deal reinforces its presence in Angola, where it already holds several stakes in deepwater blocks. Angola remains a key African oil producer, with offshore zones driving its output.

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