Chevron Announces First Production from the Lianzi Development Offshore the Republic of Congo and Angola
Cross-border project expected to produce an average of 40,000 barrels
of oil per day
Chevron Corporation (NYSE:CVX) announced today that its subsidiary,
Chevron Overseas (Congo) Limited, has commenced oil and gas production
from the Lianzi Field, located in a unitized offshore zone between the
Republic of Congo and the Republic of Angola.
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Located 65 miles (105 km) offshore in approximately 3,000 feet (900
meters) of water, Lianzi is Chevron’s first operated asset in the
Republic of Congo and the first cross-border oil development project
offshore Central Africa. The project is expected to produce an average
of 40,000 barrels of crude oil per day.
“This milestone demonstrates that we continue to make steady progress on
delivering major development projects,” said Jay Johnson, executive vice
president Upstream, Chevron Corporation. “We have the industry’s
strongest queue of major capital projects that are expected deliver
significant value and production growth.”
“As the first offshore energy development spanning national boundaries
in the Central Africa region, Lianzi represents a unique cooperative
approach to share offshore resources and may serve as a model for the
development of similar cross-border fields between two countries,” said
Ali Moshiri, president of Chevron Africa and Latin America Exploration
and Production Company.
The field, discovered in 2004, includes a subsea production system and a
27 mile (43 km) electrically heated flowline system, the first of its
kind at this water depth. The system transports the oil from the field
to the Benguela Belize–Lobito Tomboco platform in Angola’s Block 14 and
utilizes a Direct Electrical Heating (DEH) system to ensure fluid flow
under a wide range of conditions.
Chevron Overseas (Congo) Limited is operator of the Lianzi Field and has
a 15.75 percent interest, along with its affiliate Cabinda Gulf Oil
Company Limited (15.5 percent), Total E&P Congo (26.75 percent), Angola
Block 14 BV (10 percent), Eni (10 percent), Sonangol P&P (10 percent),
SNPC (the Republic of Congo National Oil Company - 7.5 percent), and
GALP (4.5 percent).
Chevron Corporation is one of the world’s leading integrated energy
companies. Through its subsidiaries that conduct business worldwide, the
company is involved in virtually every facet of the energy industry.
Chevron explores for, produces and transports crude oil and natural gas;
refines, markets and distributes transportation fuels and lubricants;
manufactures and sells petrochemicals and additives; generates power and
produces geothermal energy; and develops and deploys technologies that
enhance business value in every aspect of the company’s operations.
Chevron is based in San Ramon, Calif. More information about Chevron is
available at www.chevron.com.
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factors that could cause actual results to differ materially from those
in the forward-looking statements are changes in prices of, demand for
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