Chevron to Explore Offshore Oil and Gas in Guinea-Bissau’s MSGBC Basin
Chevron has announced plans to explore oil and gas reserves offshore Guinea-Bissau, targeting two key blocks within the highly prospective MSGBC Basin.
The MSGBC Basin spanning Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry has become one of West Africa’s most promising hydrocarbon regions, attracting significant industry attention after several major discoveries in recent years.
Liz Schwarze, Chevron’s Vice President for Exploration, expressed enthusiasm about the venture, describing it as a strategic move to strengthen the company’s global exploration portfolio with high-quality assets.
Under the agreement, Chevron’s Guinea-Bissau subsidiary will operate Blocks 5B and 6B with a 90% working interest, while Petroguin, the national oil company, will retain the remaining 10% stake.
