Chevron Corporation says that its Cabinda Gulf Oil Company Limited subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola.

Located 15 miles (24 km) offshore Cabinda province in 200 feet (60 m) of water, the $5.6 billion Mafumeira Sul project is the second stage of development of the Mafumeira Field located in Block 0. The project scope includes 50 wells, two wellhead platforms, a central processing and compression facility and approximately 75 miles (121 km) of subsea pipelines.

"This decision demonstrates our commitment to further developing opportunities in Angola where Chevron has a leading position and further adds to our strong queue of major capital projects under development," said George Kirkland, vice chairman, Chevron Corporation.

"When completed, this project is expected to grow the company's production capacity in the Mafumeira Field," said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company. "This development builds off the success of the Mafumeira Norte project and our strong track record of developing other major capital projects in the region."

Tags: Chevron Corporation