As announced on 24 June 2019, the National Oil, Gas and Biofuel Agency (ANPG), Cabinda Gulf Oil Company Limited a wholly owned subsidiary of Chevron and Sonangol E.P., signed a cooperation protocol for the study and evaluation of Block 34.   Block 34 covers some 5,930 sq km atop the Kwanza Basin and Congo Fan in water ranging in depths between 1,600 m and 2,600 m. One small gas field (N'Gandu 1) was discovered by Sonangol P&P in 2003.  The agreement stipulates that the parties undertake a joint assessment of geological, geophysical, petrophysical and other data, with a view to the potential future exploration and exploitation of the block. Sources indicate that the block has not been awarded but if the results of the studies are positive negotiations for a Risk Service Agreement will start.   Paulino JerÃ³nimo, Chairman of ANPG's Board of Directors, stressed that "this agreement demonstrates the strong partnership between the Republic of Angola and Chevron and the commitment to work together to know the country's exploration potential. The results of this study respond to the call of President JoÃ£o LourenÃ§o to mitigate the decline of production and to promote the diversification of the Angolan economy.  Gaspar Martins, head of Sonangol EP, in turn emphasizes the "importance of joint work between the three entities, in order to complete the objective of diversification and increase of production and oil in Angola."
Cabinda Gulf Oil Comp. a wholly owned subsidiary of Chevron and Sonangol E.P., signed a cooperation protocol for the study and evaluation of Block 34 (5930kmÂ²) atop the Kwanza B. and Congo Fan in WD between 1600 m and 2600 m.