LUANDA, Feb. 5 -- The U.S. oil company Chevron is to increase its crude oil production from 520,000 barrels per day (bpd) now to 620,000 bpd at the end of this year, Angola's official news agency ANGOP reported on Thursday.
Cesaltino Pedro, counselor for operation of the Blocks 0 and 14by Chevron, was quoted as saying that the increase of oil production is due to the official operation of the Tombwa-Landana oilfield situated on the Block 14 in the Angolan offshore water territory.
According to the counselor, the reservoir will have a production capacity of 100,000 bpd, under a one billion U.S. dollars investment in seismic, prospecting, drilling and project implementation works.
The counselor said Chevron will continue upgrading its workforce involving 3,000 Angolans in order to improve work efficiency and safety while increasing oil productivity.
Chevron's investments and its associates are expected to increase to over 10 billion dollars by 2010.
As one of the world's leading oil companies, Chevron operates oil exploration and production activities in Angola's northern Cabinda and Zaire provinces.
Its main projects will include the construction of a liquefied natural gas (LNG) plant in Soyo, Zaire province with a processing capacity of five million metric tons a year.
Cesaltino Pedro, counselor for operation of the Blocks 0 and 14by Chevron, was quoted as saying that the increase of oil production is due to the official operation of the Tombwa-Landana oilfield situated on the Block 14 in the Angolan offshore water territory.
According to the counselor, the reservoir will have a production capacity of 100,000 bpd, under a one billion U.S. dollars investment in seismic, prospecting, drilling and project implementation works.
The counselor said Chevron will continue upgrading its workforce involving 3,000 Angolans in order to improve work efficiency and safety while increasing oil productivity.
Chevron's investments and its associates are expected to increase to over 10 billion dollars by 2010.
As one of the world's leading oil companies, Chevron operates oil exploration and production activities in Angola's northern Cabinda and Zaire provinces.
Its main projects will include the construction of a liquefied natural gas (LNG) plant in Soyo, Zaire province with a processing capacity of five million metric tons a year.
