Chevron Corporation announced today that its Cabinda Gulf Oil Company Limited subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola.
The Mafumeira Sul project offshore Angola involves the design, fabrication and installation of five new platforms. The project highlights a continued effort to expand the capabilities of Angolan fabrication yards, increase the knowledge of Angolan engineers and adds skilled employees to the Angolan workforce.
Located 15 miles (24 km) offshore Cabinda province in 200 feet (60 m) of water, the $5.6 billion Mafumeira Sul project is the second stage of development of the Mafumeira Field located in Block 0. The project scope includes 50 wells, two wellhead platforms, a central processing and compression facility and approximately 75 miles (121 km) of subsea pipelines.
“This decision demonstrates our commitment to further developing opportunities in Angola where Chevron has a leading position and further adds to our strong queue of major capital projects under development,” said George Kirkland, vice chairman, Chevron Corporation.
Mafumeira Sul is expected to reach first oil in 2015 and build toward peak total daily production of 110,000 barrels of crude oil and 10,000 barrels of liquefied petroleum gas. Associated natural gas will be commercialized through the Angola Liquefied Natural Gas (ALNG) plant in Soyo, Angola.
Chevron’s subsidiary is the operator and holds a 39.2 percent interest in Mafumeira Sul. Chevron’s partners are Sonangol E.P. (41 percent), Total (10 percent) and ENI (9.8 percent). Mafumeira Norte, the initial development of the Mafumeira Field, achieved first oil in 2009 and currently produces more than 40,000 barrels of oil a day. Chevron produces 340,000 barrels of oil and condensate (108,000 net) from Block 0.
February 6, 2013