(Ecofin Agency) - • Fire on Chevron’s Benguela Belize platform may delay operations and impact exports
• Angola risks production shortfalls amid efforts to maintain 1.1M barrels/day output
• One person missing, 17 injured; investigation underway to assess the damage

The platform responsible for oil exploitation at the Benguela, Belize, Lobito, and Tomboco fields, collectively known as the BBLT complex, recently experienced an incident that resulted in several casualties. The platform had been shut down for several weeks, and a fire that occurred there on Tuesday, May 20, is now raising concerns for American oil multinational Chevron, which operates the site. The incident could delay the resumption of operations, initially scheduled for late May, following a period of annual maintenance planned since the beginning of the month.

The announced technical inspections imply that any prolongation of the works will delay the return to service of the installation, potentially affecting export flows. According to GlobalData, the platform has a production capacity of up to 220,000 barrels per day. Although the complex's production peak was reached in 2007 and over 80% of recoverable reserves have already been extracted, the asset remains profitable and is expected to remain so until 2038.

In a context where Angola is striving to maintain production close to 1.1 million barrels per day, any disruption to this infrastructure, even as it ages, could weigh on state revenues and Chevron's operational performance.

The latest report issued by Chevron counts 17 injured, four seriously, and one person missing. An investigation is underway to determine the origin of the fire and assess the extent of the damage.

So far, the multinational has not commented on its operations following the incident. In response to the fire, the National Agency for Oil, Gas and Biofuels (ANPG) reaffirmed its commitment to the welfare of the population and is striving to ensure effective and transparent communication with all stakeholders.