Chevron To Lead $2B Angola-Congo Offshore Oil Project

Law360, New York (July 30, 2012, 2:31 PM EDT) -- Chevron Corp. has added to its West African upstream portfolio with a $2 billion venture, announced Monday, to develop a deepwater oil field in an offshore zone jointly held by Angola and the Republic of the Congo.

The Lianzi project, which is expected to produce up to 46,000 barrels of oil equivalent per day starting in 2015, will be developed in the lucrative Block 14 under operator Chevron Overseas Congo Ltd., according to an announcement from the California-headquartered oil and gas giant.

"Lianzi is Chevron's first...
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