Chevron has officially entered Guinea-Bissau’s offshore oil and gas sector, securing exploration rights in two blocks within the MSGBC Basin — a key frontier region for West Africa’s energy development.

Through its wholly owned subsidiary, Chevron Guinea Bissau Exploration I, Ltda., the company will operate Blocks 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License), holding a 90% working interest in each. The remaining 10% interest will be held by Petroguin, Guinea-Bissau’s national oil company. The transaction has received all necessary regulatory approvals.

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“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 in Bissau alongside Celedonio Vieira, General Director of Petroguin.

Beatrice Bienvenu, Chevron’s Country Manager for West Africa Frontier, added: “We’re excited about our new partnerships with Petroguin and Guinea-Bissau’s government following the signing of Blocks 5B and 6B.”

Chevron stated that it looks forward to working closely with Petroguin to advance exploration activities and contribute to the development of Guinea-Bissau’s energy sector.

As one of the world’s leading integrated energy companies, Chevron engages in crude oil and natural gas production, manufacturing of fuels, lubricants, petrochemicals, and additives, while also advancing lower-carbon technologies. The company continues to focus on reducing the carbon intensity of its operations and growing its lower-carbon business lines alongside its traditional portfolio.

Chevron has expanded its global exploration portfolio by nearly 40% over the past two years, marking new country entries into Peru, Uruguay, and Namibia. The company has maintained a strong presence in Africa for nearly a century, with ongoing operations and exploration efforts in countries including Angola and Nigeria.