* As a Diamond Sponsor of African Energy Week 2025: Invest in African Energies, Chevron is reaffirming its commitment to Africa through major upstream and gas infrastructure developments across some of the continent's most strategic hydrocarbon markets

CAPE TOWN, South Africa - Chevron's return as a Diamond Sponsor at African Energy Week (AEW): Invest in African Energies 2025 comes as the energy major deepens its footprint across Africa, marking a renewed commitment to unlocking long-term growth opportunities in both mature and emerging markets. Chevron is ramping up its activities across the continent - securing new acreage, expanding gas infrastructure and advancing exploration efforts in high-potential basins across the continent. In Nigeria, Chevron's plan to scale up oil exploration follows a recent discovery in the Niger Delta - the Meji NW-1 well. In February 2025, Chevron extended its contract with Shelf Drilling for the Scepter jack-up rig offshore Nigeria, ensuring continuity of drilling operations through mid-2026. In Equatorial Guinea (EG), Chevron has stakes in three fields and recently entered into two production-sharing contracts for the EG-06 and EG-11 blocks. Chevron is engaged in discussions to monetize gas from the Aseng field and to develop a transboundary field between Equatorial Guinea and Cameroon. The company has also indicated it is considering drilling an exploration well in PEL 82 in Namibia's offshore Walvis Basin in 2026 or 2027, activating its growing African exploration portfolio.

In Angola, Chevron has expanded its footprint with new deepwater concessions and the Sanha Lean Gas Connection Project, which achieved first gas in December 2024 and links gas fields in Blocks 0 and 14 to the Angola LNG plant - enhancing monetization of associated gas and strengthening energy security. In 2024, the company signed two Risk Service Contracts for Blocks 49 and 50 in ultra-deepwater acreage in Angola's Lower Congo Basin, laying the foundation for future development. Chevron's active participation in Angola LNG, which is set to undergo expansion to accommodate new gas supplies, and as partner of New Gas Consortium underscores its commitment to the country's gas value chain.

Meanwhile, in Egypt Chevron remains excited about its exploration portfolio where it has 3 blocks -- including operatorship of Nargis and North el Dabaa - and continues to look for new opportunities. Chevron recognizes that Algeria holds a world-class hydrocarbon system with the potential for significant oil and gas resources. Earlier this year Chevron signed a study agreement with Algeria's national hydrocarbons agency, Alnaft to assess potential offshore hydrocarbon resources. This expansion supports Algeria's broader objective of boosting foreign investment and developing new reserves to sustain its export-driven energy economy.

"Chevron's commitment to Africa is more than just operational - it's strategic. Their continued investment across Nigeria, Angola and now Algeria and Namibia shows real confidence in the future of African energy. As a Diamond Sponsor of AEW 2025, Chevron is not only driving upstream and gas development, but helping shape the dialogue around sustainability, infrastructure and long-term energy security for the continent," said Tomás Gerbasio, Vice President of Commercial and Strategic Engagement at the African Energy Chamber.

The energy major's presence at AEW 2025: Invest in African Energies in Cape Town - where it will headline as a Diamond Sponsor - reflects this dual focus on opportunity and responsibility. As delegates gather to shape the future of African energy, Chevron brings to the table a proven track record, fresh investment and a long-term view of Africa as a critical pillar in the global energy mix.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Distributed by APO Group on behalf of African Energy Chamber.