Chevron Says Cabinda Gulf Oil to Proceed with Development of Mafumeira Sul Project - Chevron (NYSE:CVX)

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Chevron Corporation (NYSE: CVX) announced today that its Cabinda Gulf OilCompany Limited subsidiary will proceed with the development of the MafumeiraSul project located offshore Angola.Located 15 miles (24 km) offshore Cabinda province in 200 feet (60 m) ofwater, the $5.6 billion Mafumeira Sul project is the second stage ofdevelopment of the Mafumeira Field located in Block 0. The project scopeincludes 50 wells, two wellhead platforms, a central processing andcompression facility and approximately 75 miles (121 km) of subsea pipelines.

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