OilVoice - Chevron Confirms Discovery Offshore Republic of the Congo

Chevron Confirms Discovery Offshore Republic of the Congo

Thursday, May 07, 2009

Chevron Corporation has confirmed a discovery within the Moho-Bilondo license in the Republic of the Congo.

The Moho Nord Marine-4 well, in which Chevron Overseas (Congo) Limited holds a 31.5 percent interest, is located approximately 46 miles (75 kilometers) offshore of the Republic of the Congo, in 3,537 feet (1,078 meters) of water in the northern part of the Moho-Bilondo license.

George Kirkland, Chevron executive vice president, Global Upstream and Gas, said, “This exciting discovery emphasizes the future potential of this region in which Chevron and its partners have already made significant energy investments, including the Moho-Bilondo project.”

Moho Nord Marine-4 was drilled to a total depth of 13,907 feet (4,239 meters) and proved a 535 foot (163 meter) column of high-quality oil flowing at 8,100 barrels per day.

The discovery follows two previous successful exploration wells, Moho Nord Marine-1 and 2, drilled in the permit area in 2007, and the positive appraisal well Moho Nord Marine-3 in 2008.

The permit area’s deepwater Moho-Bilondo project, which began production April 2008, consists of subsea well clusters that flow into a floating processing unit. Maximum total daily production of 90,000 barrels of crude oil is expected in 2010.

Chevron's partners on the permit area are Société Nationale des Pétroles du Congo (15 percent) and Total E&P Congo (operator and 53.5 percent).

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