Chevron will explore for oil and gas offshore Guinea-Bissau in two blocks in the MSGBC basin, the company said on Monday.
The Mauritania, Senegal, Gambia, Bissau and Conakry (MSGBC) basin is a geological region in West Africa that has become a major focus for the oil and gas sector following major recent discoveries.
"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," Liz Schwarze, Chevron's Vice President for Exploration, said in a statement.
Chevron's local unit will be the operator of Blocks 5B and 6B with a 90 per cent working interest in both. Petroguin, Guinea-Bissau's national oil company, holds the remainder.
(Reporting by Wendell Roelf; Editing by Alexander Winning)