Chevron and ExxonMobil are part of the group of six American companies present in Angola and which contribute to maintaining the country’s oil production levels. Chevron has a 26% market share and ExxonMobil is present in three deepwater blocks, having recently announced an investment of 15 million dollars in the development of the offshore basin by 2030.
The two oil companies want to contribute with their experience to increase national production levels which, in 2024, have plans to increase oil production to 1.18 million barrels per day.
With a 26% market share in the Angolan oil industry, and classified as one of the country’s main oil producers, Chevron operates through its subsidiary Cabinda Gulf Oil Company.
Oil and gas multinational ExxonMobil holds interests in three deepwater blocks – Blocks 30, 44 and 45, in Angola, covering approximately 8,000 km2. In November 2023, it was announced that the oil company received authorization from the Angolan Government to extend the exploration of the blocks it explores in the Namibe basin for another year.