According to a company statement, Chevron will operate Blocks 5B and 6B with a 90% working interest, while Guinea-Bissau’s state-owned Petroguin will hold the remaining share.
“This partnership represents a new chapter for Chevron in West Africa,” said Liz Schwarze, the company’s vice president for exploration, adding that the initiative aligns with Chevron’s global strategy to expand its portfolio in high-potential regions.
The MSGBC Basin — spanning Mauritania, Senegal, Gambia, Guinea-Bissau, and Guinea-Conakry — has drawn significant attention from global energy companies following major offshore discoveries in recent years.
Guinea-Bissau hopes the exploration deal will stimulate investment, infrastructure development, and future energy exports, strengthening its position within West Africa’s growing oil and gas industry.