Chevron Corporation (NYSE:

) announced today that its Cabinda Gulf Oil Company Limited subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola. Located 15 miles (24 km) offshore Cabinda province in 200 feet (60 m) of water, the $5.6 billion Mafumeira Sul project is the second stage of development of the Mafumeira Field located in Block 0. The project scope includes 50 wells, two wellhead platforms, a central processing and compression facility and approximately 75 miles (121 km) of subsea pipelines.