Start-up is part of the largest-ever oil and gas project undertaken
in the country
SAN RAMON, Calif.--(BUSINESS WIRE)--Dec. 11, 2015--
Chevron Corporation (NYSE:CVX) confirmed today that its subsidiary,
Chevron Overseas (Congo) Limited, and partners have started production
from the deepwater development Moho Bilondo Phase 1b offshore the
Republic of Congo.
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Located approximately 46 miles (75 km) off the coast of Pointe-Noire in
water depths ranging from 2,400 to 4,000 feet (750 to 1,200 meters),
Moho Bilondo Phase 1b is part of the Moho Nord joint development
project, the largest-ever oil and gas project undertaken in the Republic
of Congo. The Moho Bilondo Phase 1b project includes 11 wells tied back
to an existing floating production unit and is expected to produce a
total of 40,000 barrels of oil per day.
“First oil from the Moho Bilondo Phase 1b development is the latest
successful start-up in our diverse portfolio of deepwater projects,
which we expect to generate value for years to come,” said Jay Johnson,
executive vice president Upstream, Chevron Corporation.
“The successful development of Phase 1b demonstrates our ongoing
commitment to the Republic of Congo and is a testament to industry and
government cooperation,” said Ali Moshiri, president of Chevron Africa
and Latin America Exploration and Production Company. “The project
integrates the unique skills and expertise of multiple partners to
deliver challenging projects and new energy production.”
The Phase 1b development targeted reserves in the southern portion of
the Moho Bilondo permit area. The Moho Nord subsea development, which
will be the second phase of the Moho Nord joint development project, is
in the northern part of the area.
The Moho Nord development project involves a tension-leg platform, a
floating production unit with a processing capacity of 100,000 barrels
of oil per day, and a 50-mile (80-kilometer) pipeline to the onshore
Chevron Overseas (Congo) Limited has a 31.5 percent working interest in
the Moho Bilondo permit area, along with Total E&P Congo (53.5 percent
working interest and operator) and the national oil company, Société
Nationale des Pétroles du Congo (15 percent working interest).
Chevron Corporation is one of the world’s leading integrated energy
companies. Through its subsidiaries that conduct business worldwide, the
company is involved in virtually every facet of the energy industry.
Chevron explores for, produces and transports crude oil and natural gas;
refines, markets and distributes transportation fuels and lubricants;
manufactures and sells petrochemicals and additives; generates power and
produces geothermal energy; and develops and deploys technologies that
enhance business value in every aspect of the company’s operations.
Chevron is based in San Ramon, Calif. More information about Chevron is
available at www.chevron.com.
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Source: Chevron Corporation
Isabel Ordóñez, +1-713-372-1841 (Houston)