Chevron enters Guinea-Bissau, eyeing deepwater exploration

Guinea-Bissau

BISSAU, November 4, 2025 – Chevron has signed a deal to explore two offshore blocks in Guinea-Bissau and is seeking to expand its acreage in West Africa, the company said on Monday.

The blocks, located in the Mauritania, Senegal, Gambia, Bissau and Conakry (MSGBC) basin, mark Chevron’s entry into a region that has seen major hydrocarbons discoveries such as GTA and Sangomar.

“So West Africa is strategic to Chevron and we continue to be keen to acquire additional acreage in West Africa,” Chevron vice-president for exploration Liz Schwarze was quoted as saying in the report. “Sometimes you find gas, but the entry premise is really to explore for oil here.”

Chevron’s local unit will operate Blocks 5B and 6B with a 90% working interest, while Petroguin, Guinea-Bissau’s national oil company, holds the remaining stake. The company plans to interpret 2D- and 3D-seismic data covering the deep to ultra-deepwater acreage.

“We do see a number of plays and great geology in the area,” Schwarze said, adding it was too early to say when the first exploration wells could be drilled.

Chevron operates across the full energy value chain, including upstream oil and gas exploration, refining, chemicals and renewables. In West Africa, the company’s portfolio includes upstream operations in Nigeria and Angola and new acreage in the MSGBC Basin.

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