Luanda, Aug. 17, 2026 (Lusa) - The Angolan oil concessionaire and the Block 0 contractor group announced on Monday the discovery of oil and gas condensate in exploration well 105-4X, in the offshore area of the Lower Congo Basin.
The National Agency for Oil, Gas and Biofuels (Anpg), the Angolan oil concessionaire, stated in a press release that preliminary results confirm the existence of a column of oil and gas condensate more than 600 metres (2,000 feet) thick in the main reservoir of the Pinda Formation.
Block 0 is operated by Chevron Corporation (NYSE: CVX), through its subsidiary Cabinda Gulf Oil Company Limited (CABGOC), which holds a 39.2% stake, alongside Sonangol E&P (41%), TotalEnergies (10%) and Azule Energy (9.8%).
«The discovery has a net pay of more than 90 metres (...) and excellent reservoir petrophysical properties, demonstrating its commercial viability potential,» the statement reads, adding that a period of technical and economic assessment will follow to determine future development.
The press release highlights that the plan provides for a connection to existing facilities in the block, enabling «a more efficient production route, with less need for additional capital investment and faster monetisation of the discovered resources».
The chairman of the ANPG board of directors, Paulino Jerónimo, quoted in the statement, emphasised that the national concessionaire encourages the continued identification of new opportunities, in line with the strategic exploration programme defined for this block.
Paulino Jerónimo stressed that the discovery of well 105-4X in Block 0 reaffirms the high potential of the Lower Congo Basin and the soundness of the ongoing exploration strategy.
«This result creates favourable conditions for rapid monetisation, with positive impacts on national production, on the revenues of Chevron and the Block's partners, as well as for the Angolan State,» said Paulino Jerónimo.
For his part, Chevron's Vice-President of Exploration, Kevin McLachlan, also quoted in the document, noted that this discovery represents an important milestone in the US oil company's more than 70-year history in Angola.
«By combining high-impact exploration with development opportunities supported by existing and nearby infrastructure, we are expanding our resource base, creating value and demonstrating that our strategy is delivering results. This discovery also reinforces our confidence in the potential of Angola's resources,» said Kevin McLachlan.
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