Chevron Receives Offshore Energy Achievement Award for its Benguela Belize Project in Angola

Source: www.gulfoilandgas.com 12/9/2005, Location: Africa

Chevron Corporation announced that its Benguela Belize drilling and production platform in Angola has been honored as the "Project of the Year" by the Offshore Energy Association. "The project team successfully managed the engineering challenges and completed the project ahead of schedule, within budget and, most important, in a safe manner. This is a testament to our ability to effectively manage large and complex projects.", said John Watson, president, Chevron International Exploration and Production.

Benguela Belize-Lobito Tomboco (BBLT), one of the company's "Big 5" major capital projects, is scheduled to begin production during the first quarter of 2006. The project is expected to have a production capacity of 220,000 barrels per day.

"Benguela Belize demonstrates how Chevron is achieving its objective of leading the industry in the selection and execution of major capital projects," added Watson.

The Benguela Belize-Lobito Tomboco fields are located 60 miles off the Cabinda coast in the northwest part of Block 14, where Chevron also operates the Kuito Field. The Benguela Belize structure, a compliant piled tower with topsides weighing over 40,000 tons, is situated in 1,300 feet of water. It is the first such structure installed outside the Gulf of Mexico and is one of the largest structures in the world. The tower and topsides were built in Angola, Korea and Texas.

BBLT is a two-phase development. Phase 1 – Benguela Belize – includes the compliant piled tower with processing, injection and export facilities. Phase 2 – Lobito Tomboco – includes three subsea centers and tiebacks to the compliant piled tower.

The Benguela and Belize fields were discovered in 1998. The Lobito and Tomboco fields were discovered in 2000.

Chevron, with a 31 percent interest in BBLT, operates the project on behalf of the other Angola Block 14 partners: Sonangol, Total and ENI - each with 20 percent interest - and GALP with 9 percent.


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