Chevron to Boost Exploration in West Africa

Unlike the other supermajors, U.S. oil and gas giant Chevron is buying into offshore blocks offshore Angola and Nigeria in West Africa, looking to revive exploration in what it describes as an under-explored oil province. The producers, Africa’s top two, have seen their oil output slump in recent years, due to underinvestment and majors selling off assets in these countries. Chevron, however, insists that the offshore waters still have a lot of resources which it could tap and develop. The region of West Africa is “such a hydrocarbon-rich…