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Chevron to Invest $1.9 Billion in Congo Republic Oil Field

Chevron Corp. (CVX), the second-largest U.S. oil producer, plans to invest $1.9 billion in its Lianzi oil field in Congo Republic, according to the nation’s Economy and Planning Ministry.

Lianzi is situated on the maritime border with Angola and may produce 70,000 barrels a day of oil from 2014, the ministry said in a statement distributed in the capital, Brazzaville, today.

To contact the reporters on this story: Robert Mbakou in Brazzaville at rmbakouo@bloomberg.net; Franz Wild in Johannesburg at fwild@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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