United States energy giant Chevron Corp will explore for oil and gas offshore Guinea-Bissau in two blocks located within the Mauritania, Senegal, Gambia, Bissau, and Conakry (MSGBC) Basin, Reuters reported.
The MSGBC Basin, stretching along West Africa’s Atlantic coast, has become one of the continent’s most closely watched exploration frontiers following major oil and gas discoveries in Senegal and Mauritania over the past decade. Chevron’s planned drilling marks its first entry into Guinea-Bissau, expanding its growing footprint in the region.
The company said it would explore two offshore blocks, believed to contain untapped hydrocarbon potential, in partnership with Guinea-Bissau’s national oil company, Petroguin E&P. Terms of the production-sharing agreement were not disclosed.
Recent developments in the MSGBC Basin have drawn renewed interest from global energy majors seeking new low-cost, high-yield reserves. The area hosts projects such as BP and Kosmos Energy’s Greater Tortue Ahmeyim (GTA) gas field, which straddles the Mauritania–Senegal maritime border, and Woodside Energy’s Sangomar oil field, expected to begin production in 2025.
Energy analysts say Chevron’s move signals growing confidence in the basin’s potential, particularly as companies diversify beyond more mature regions and navigate the global energy transition. Guinea-Bissau, one of Africa’s smallest economies, could benefit from foreign investment, infrastructure development and potential export revenues if commercial discoveries are made.
However, experts caution that offshore exploration remains costly and politically sensitive, given environmental risks and governance challenges across parts of the region. Any development, they note, would likely take several years to materialize.
Chevron’s exploration program is part of a broader trend of renewed upstream activity across West Africa, as governments look to leverage natural resource development while balancing climate commitments and sustainable growth.
