- Angola to generate $5.7 billion over 15 years from new offshore oil development.
- Chevron-led project aims to replenish reserves and stabilise production.
Luanda, Angola – The Angolan government anticipates generating $5.7 billion in revenue over 15 years from the newly reconfigured Block 14/23, which holds reserves estimated at 298 million barrels of oil. Operated by Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of Chevron, the project aims to mitigate production decline and bolster reserve replenishment in the nation’s energy sector.
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