Chevron Announces Significant Oil Discovery Offshore Angola

Chevron Corporation announced today that its subsidiary Cabinda Gulf Oil Company Limited (CABGOC) and partners made a significant oil discovery in Block 14, offshore Angola.

The discovery well, Malange-1, was drilled in December 2006 in 873 feet (266 meters) of water to a total vertical depth of 15,562 feet (4,743 meters). The well encountered 212 net feet (64.6 net meters) of oil in the Cretaceous-age Pinda reservoir. The well was tested in March 2007 and flowed high-quality crude at a rate of 7,669 barrels of oil per day (BOPD).

CNN