Chevron (CVX.N) has signed a preliminary agreement with Angola’s national oil and gas concessionaire, ANPG, to explore for oil in offshore Block 33/24, the U.S. oil major announced on Wednesday.
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The risk services contract with Angola’s National Oil, Gas and Biofuels Agency was formalized on the opening day of an energy conference in the country.
“The execution of the RSC remains subject to regulatory approvals,” Chevron said in a statement.
The deep-water block lies in the Lower Congo Basin, adjacent to the prolific Block 17 and Block 32, Reuters reported.
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Image Credit: FUTU
