The Lianzi field is operated by Chevron’s subsidiary Chevron Overseas Congo, and is the super-major’s first operated asset in the Republic of Congo. In previous statements, the company has said the project would cost around $2 billion and target around 67 million barrels of reserves.
The Lianzi field sits at a water depth of around 900 metres and is located around 105 kilometres off the coast of central Africa in the Joint Development Zone, a 696-square-kilometre area for oil exploration agreed on between the governments of Republic of Congo and Angola.
“As the first offshore energy development spanning national boundaries in the Central Africa region, Lianzi represents a unique co-operative approach to share offshore resources and may serve as a model for the development of similar cross-border fields between two countries,” Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production, said in a statement.
In 2012, Congo and Angola signed an agreement that splits Lianzi revenues 50/50 between stakeholders of Angola’s block 14 and Congo’s Haute Mer licence. Chevron has a combined 31.75-percent interest through Chevron Overseas Congo (15.75 percent) and subsidiary Cabinda Gulf Oil Company (15.5 percent). Total has a combined 36.75-percent interest through Total E&P Congo (26.75 percent) and affiliate Angola Block 14 (10 percent). Italian major Eni and Angolan national oil company <a href=’https://theenergyyear.com/companies-institutions/sonangol/’>Sonangol each hold 10 percent. Congolese state player Société Nationale des Pétroles du Congo holds 7.5 percent, and Portugal’s Galp 4.5 percent.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.