Article: DEMOCRATIC REPUBLIC OF CONGO: WORK ON PLANNED $75,000,000 OIL FIELD DEVELOPMENT PROJECT IS TENTATIVELY SCHEDULED TO BEGIN SOME TIME DURING THE FIRST QUARTER OF THE YEAR 2000, CHEVRON CORP. [USA] - Order #: 0352200.(Brief Article)

PROJECT OVERVIEW

U.S.-based CHEVRON CORP. which holds a 50% interest in a leased oil field in the Democratic Republic of Congo also acts as operator. The deposit in question had a production output of some 17,700 barrels per day (b/d) during 1999. However, the partnership is now proposing to increase the oil flow by up to more than 20,000 b/d during the year 2000 and eventually to 21,000 b/d by 2002.

As a result, the consortium is now said to be gearing-up to undertake a $75,000,000 3-year development program. The planned works will reportedly include the completion of delineation and development drilling.

As things currently stand, work ...

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