By Ejiro Nesisa
Chevron Guinea Bissau Exploration I, Ltd , a wholly owned subsidiary of Chevron, will be the operator of offshore Blocks 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License) with a 90% working interest in each adding that, Chevron entered Guinea-Bissau’s offshore exploration sector through two blocks in the MSGBC basin.
This was made known through Chevron External Affairs Advisor, Media Relations, Laura Hurst in a press statement. According to the statement, Petroguin, the country’s national oil company, holds the remaining 10% working interests in the blocks adding that the transaction received all the required regulatory approvals.
Part of the statement reads: “Chevron is happy to begin a new chapter with Guinea-Bissau, in alignment with our exploration strategy of adding high-quality acreage to our global portfolio” According to Chevron Vice President of Exploration, Liz Schwarze, this is as a result of a ceremony in Bissau with General Director Petroguin Caledonia Vieira. The statement further added that Chevron County Manager, West Africa Frontier, Beatrice Bienyenu said: “We’re excited about our new partnerships with Petroguin and Guinea-Bissau’s government following the signing of Blocks 5B and 6B,”
The statement said that Chevron looks forward to working with Petroguin to advance exploration and contribute to developing Guinea-Bissau’s energy sector. The statement added that, Chevron has been an experienced deepwater operator with activities across the world saying that, the organization has increased its exploration portfolio by nearly 40% in the last two years, including country entries into Peru, Uruguay and Namibia.
Part of the statement reads: “The Company has been a leading operator in Africa for nearly a century with current production and exploration efforts in countries across the continent, including Angola, Nigeria, Mauritania, Senegal, Gambia, Guinea Bissau and Guinea-Conakry Basin”.