Chevron Expands West Africa Exploration with Guinea-Bissau Offshore Blocks

Chevron is expanding its exploration activities in West Africa by acquiring offshore exploration rights in two blocks in Guinea-Bissau within the MSGBC basin, a region gaining attention due to recent major oil and gas discoveries. The company will operate these blocks with a 90% working interest, while Guinea-Bissau's national oil company, Petroguin, holds the remaining 10%. This move aligns with Chevron's global strategy to add high-quality acreage and increase its exploration portfolio, which has grown by nearly 40% in the past two years with new entries in countries like Peru, Uruguay, and Namibia. Chevron's Vice President of Exploration, Liz Schwarze, emphasized the strategic importance of West Africa for the company and highlighted the promising geology of the area. Chevron looks forward to partnering with Petroguin and the Guinea-Bissau government to advance exploration and contribute to the development of the country's energy sector. The company has a long-standing presence in Africa, with ongoing production and exploration in Angola, Nigeria, and other countries.