Chevron Announces Major Oil and Gas Discovery Offshore Angola

US company Chevron said on Monday, 25 Mordad 1405 (August 17, 2026), it made a new oil and gas condensate discovery in Block 0 waters offshore Angola. The 105-4X exploration well encountered more than 610 meters (2,000 feet) of hydrocarbon bearing section and over 91 meters (300 feet) of net pay in the Pinda reservoir in the Lower Congo Basin, which Chevron described as having excellent reservoir quality.

According to Oilprice.com, Chevron has not yet disclosed an estimate of recoverable resources or potential production, and is evaluating whether the field can be tied into existing Block 0 facilities rather than developed as a standalone project. Angola's Sonangol holds 41% of the block, Chevron 39.2%, TotalEnergies 10% and Azule Energy, the BP Eni joint venture, 9.8%. Angola's oil output, which once neared 2 million barrels per day, has stabilized at around 1.1 million barrels per day.