Angola’s Ministry of Mineral Resources, Oil and Gas and the Ministry of Hydrocarbons of the Democratic Republic of the Congo (DRC) have signed an agreement with new terms for the co-development of offshore Block 14.

The agreement was signed during the opening ceremony of the Angola Oil & Gas (AOG) 2024 conference in Luanda on Wednesday.

Straddling the maritime border between Angola and the DRC, Block 14 boasts a production capacity of 3.29 million barrels per year. The deepwater block is operated by Chevron local subsidiary the Cabinda Gulf Oil Company, alongside partners Eni, etu energias and Angolan national oil company Sonangol.

Angola’s Minister of Mineral Resources, Oil and Gas Diamantino Azevedo and the DRC’s Minister of Hydrocarbons Aimé Sakombi Molendo signed the agreement.

Minister Azevedo said the agreement cover the conditions for all activities for the common zone.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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