First Oil from Mafumeira Norte in Angola

Chevron Corporation announced that its subsidiary Cabinda Gulf Oil Company Limited (CABGOC) and its partners commenced crude oil production ahead of schedule from the Mafumeira Norte project located offshore Angola. “Today’s milestone underscores Chevron’s commitment to growing its resource base in West Africa and delivering on our robust queue of major capital projects,” said George Kirkland, executive vice president, Global Upstream and Gas, Chevron.

Located in 160 feet (49 meters) of water about 15 miles (24 km) off the Angolan coastline, the Mafumeira Norte project is the first phase development of the Mafumeira Field located in Area A of Block 0. The project is being commercialized through fourteen wells to the existing Kungulo water injection platform and is expected to reach maximum total production of 30,000 barrels of crude oil and 30 million cubic feet per day of natural gas in 2011. “Production from Mafumeira Norte is an exciting milestone for Chevron and its partners in terms of bringing new energy supplies onto the world market and providing benefits to Angola," said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production.

The engineering, procurement, construction, and installation contract for the Mafumeira Norte platform was awarded to Sonamet (Lobito), a joint venture between Sonangol and Acergy, marking the first time Sonamet was awarded such a contract. The fabrication of the platform was completed at Sonamet’s Lobito yard in southern Angola. Chevron, through CABGOC, has a 39.2 percent interest and is the operator of the Block 0 contractor group, which also comprises SONANGOL P&P (41 percent), Total (10 percent) and ENI (9.8 percent).

Chevron Corporation is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of approximately 62,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif.