Congo: Chevron to Invest USD 1.9 bln in Lianzi Development

Chevron, one of the U.S. largest oil producers, plans to invest $1.9 billion in the development of Lianzi oil field. The Lianzi is an offshore oil field located in in the deepwater area between the Republics of Angola and Congo.

Richard Phillip Cohagan, Chevron’s executive responsible for Africa region, said Tuesday that the company, after 20 years of presence in Congo, wanted to change its status from a non-producing company to a producing one.

Cohagan, during a meeting with Pierre Moussa, the minister of Economy and Planning Congo, said that the company also planned to spend $150 million on social development projects in Congo.

Back in 2009, KBR’s Granherne was selected by Chevron for the front end engineering and design (FEED) of the Lianzi development project. According to the KBR’s website, the Lianzi development will be tied back approximately 27 miles to the existing Benguela Belize (BB) host facility offshore Angola. It is located in water depths of 2,700ft to 3,500ft (820m to 1070m) and will include three subsea production wells, three water injection wells with the capability to add one each contingency production and water injection wells.

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Offshore Energy Today Staff, March 2, 2012