press release block 0 partners sign an agreement for the creation of a program for the revitalization of Angola

LUANDA, June 28, 2018 – Chevron's subsidiary in Angola, Cabinda Gulf Oil Company Limited (CABGOC), on behalf of the Block 0 partners (Total Petroleum Angola Limited, ENI Angola Production, and Sonangol E.P.), has announced the signing of an agreement for the creation of a program for the revitalization of Angola.

As a result of the Social Bonus that was awarded when the Block 0 concession was granted, the goal of this program is to contribute toward the socio-economic development of the populace, with emphasis on aspects relating to health, education, and economic development.

With funding in the amount of U.S. $38 million, the managing organization – which consists of representatives of the Ministry of Mineral and Petroleum Resources (MIREMPT), Sonangol EP, and CABGOC – will coordinate, analyze, and select the projects to be implemented in the various Angolan provinces.

“CABGOC is committed to supporting the Angolan government in actions that contribute toward strengthening the health and education systems, as well as encouraging initiatives for economic development. This agreement is vitally important, because it will strengthen the initiatives for social investment in the country," says John J. Baltz, Managing Director of CABGOC.

The agreement was signed during [a meeting of] the MIREMPT Advisory Council. Those present included Diamantino Azevedo, the Minister of Mineral and Petroleum Resources; Carlos Saturnino, the Chairman of the Board of Directors of Sonangol E.P.; and John J. Baltz, the Managing Director of CABGOC.

CABGOC has had a commitment to Angola for more than 60 years, and especially to Cabinda Province. We are part of the community, and over the years we have found that our success is intrinsically linked to the well-being of the communities in which we operate.