By Peter Onyekachukwu 
By Peter Onyekachukwu
Chevron Corporation has officially entered Guinea-Bissau’s offshore oil and gas exploration sector through the acquisition of two blocks in the MSGBC Basin, marking a new phase of investment in the West African nation’s energy industry.
In a statement released after a ceremony in Bissau on Monday, Chevron said its subsidiary, Chevron Guinea Bissau Exploration I, Ltda., will operate offshore Blocks 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License), holding a 90 percent working interest in each. The remaining 10 percent interest will be retained by Petroguin, Guinea-Bissau’s national oil company.
Chevron confirmed that the transaction has received all necessary regulatory approvals from the government.
“Chevron is happy to begin a new chapter with Guinea-Bissau, in alignment with our exploration strategy of adding high-quality acreage to our global portfolio,” said Liz Schwarze, Chevron’s Vice President of Exploration, during the signing ceremony with Petroguin’s General Director, Celedonio Vieira.
Also speaking, Beatrice Bienvenu, Chevron’s Country Manager for West Africa Frontier, described the partnership as a promising step toward unlocking the country’s offshore potential. “We’re excited about our new partnerships with Petroguin and Guinea-Bissau’s government following the signing of Blocks 5B and 6B,” she stated.
Chevron noted that it looks forward to collaborating with Petroguin to advance exploration efforts and contribute to the development of Guinea-Bissau’s energy sector.
The U.S.-based energy giant is recognized as one of the world’s leading deepwater operators, with a growing presence in several frontier basins. Over the past two years, Chevron has expanded its global exploration portfolio by nearly 40 percent, including new ventures in Peru, Uruguay, and Namibia.
Having operated in Africa for nearly a century, Chevron currently maintains significant production and exploration activities in countries such as Angola and Nigeria.
The MSGBC Basin—comprising Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry—has emerged as one of the continent’s most promising hydrocarbon regions, attracting major international energy players in recent years.