From Francis Sadhere, Delta
Chevron Corporation has expanded its footprint in West Africa with the acquisition of two offshore exploration blocks in Guinea-Bissau’s MSGBC Basin, marking the company’s entry into the country’s oil and gas sector.
Chevron Guinea Bissau Exploration I, Ltda., a wholly owned subsidiary of Chevron, will operate Blocks 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License), holding a 90 percent working interest in each. The remaining 10 percent stakes are retained by Petroguin, Guinea-Bissau’s national oil company. The transaction has received all required regulatory approvals.
Speaking during a signing ceremony in Bissau, Chevron’s Vice President of Exploration, Liz Schwarze, said the company was pleased to begin a new chapter with Guinea-Bissau as part of its global exploration growth strategy.
“Chevron is happy to begin a new chapter with Guinea-Bissau, in alignment with our exploration strategy of adding high-quality acreage to our global portfolio,” Schwarze stated.
Also commenting, Chevron’s Country Manager for West Africa Frontier, Beatrice Bienvenu, expressed optimism about the partnership, saying the company looked forward to working closely with Petroguin and the government of Guinea-Bissau to advance exploration and support the development of the nation’s energy sector.
Chevron, one of the world’s leading energy companies, has a long history of deepwater operations and has been a key player in Africa’s oil and gas landscape for nearly a century.
The company currently operates in several African countries, including Angola and Nigeria, and has expanded its global exploration portfolio by nearly 40 percent in the past two years with new entries into Peru, Uruguay, and Namibia.
The MSGBC Basin—covering Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry—is emerging as one of the most promising hydrocarbon regions in Africa, attracting growing international interest from major energy companies.
With the signing of the Carapau and Peixe Espada licenses, Chevron joins the list of global players seeking to tap the basin’s vast offshore potential while strengthening Guinea-Bissau’s prospects in the regional energy landscape.
Chevron Corporation has expanded its footprint in West Africa with the acquisition of two offshore exploration blocks in Guinea-Bissau’s MSGBC Basin, marking the company’s entry into the country’s oil and gas sector.
Chevron Guinea Bissau Exploration I, Ltda., a wholly owned subsidiary of Chevron, will operate Blocks 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License), holding a 90 percent working interest in each. The remaining 10 percent stakes are retained by Petroguin, Guinea-Bissau’s national oil company. The transaction has received all required regulatory approvals.
Speaking during a signing ceremony in Bissau, Chevron’s Vice President of Exploration, Liz Schwarze, said the company was pleased to begin a new chapter with Guinea-Bissau as part of its global exploration growth strategy.
“Chevron is happy to begin a new chapter with Guinea-Bissau, in alignment with our exploration strategy of adding high-quality acreage to our global portfolio,” Schwarze stated.
Also commenting, Chevron’s Country Manager for West Africa Frontier, Beatrice Bienvenu, expressed optimism about the partnership, saying the company looked forward to working closely with Petroguin and the government of Guinea-Bissau to advance exploration and support the development of the nation’s energy sector.
Chevron, one of the world’s leading energy companies, has a long history of deepwater operations and has been a key player in Africa’s oil and gas landscape for nearly a century.
The company currently operates in several African countries, including Angola and Nigeria, and has expanded its global exploration portfolio by nearly 40 percent in the past two years with new entries into Peru, Uruguay, and Namibia.
The MSGBC Basin—covering Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry—is emerging as one of the most promising hydrocarbon regions in Africa, attracting growing international interest from major energy companies.
With the signing of the Carapau and Peixe Espada licenses, Chevron joins the list of global players seeking to tap the basin’s vast offshore potential while strengthening Guinea-Bissau’s prospects in the regional energy landscape.
