Chevron Confirms Startup of Moho-Bilondo Offshore Republic of the Congo

SAN RAMON, Calif.- Chevron Corporation (NSYE: CVX) today confirmed first production from the deepwater offshore Moho-Bilondo project in the Republic of the Congo.

The project, in which Chevron has a 31.5 percent interest, was completed ahead of schedule.

Originally planned to come onstream in the second half of 2008, Moho-Bilondo consists of subsea well clusters that flow into a floating processing unit. Maximum total daily production of 90,000 barrels of crude oil is expected in 2010.

The Moho Field, located nine miles (15 km) off the Congolese coast, was discovered in 1995 in the Haute-Mer concession in 2,300 feet (700 meters) of water.

In addition, two exploration wells, Moho-Nord Marine 1 and 2, were drilled in the permit area in 2007.

Chevron’s partners on the project are Société Nationale des Pétroles du Congo (15 percent) and Total E&P Congo (operator and 53.5 percent).