US-based multinational energy company Chevron's subsidiary, Chevron Overseas (Congo), will undertake the joint development of the Moho Bilondo "Phase 1 bis" and Moho Nord projects, offshore the Republic of the Congo.
The Moho Nord joint development is located about 46 miles offshore southwest of Pointe-Noire in water depths between 1,500 to 4,000ft.
Chevron claimed that it is the largest ever oil and gas project in the Republic of the Congo.
The Moho Bilondo "Phase 1 bis" project involves wells tied back to an existing floating production unit which has a processing capacity of 40,000 barrels per day (bpd) of oil.
In 2008, production in the permit area commenced with the Moho Bilondo 1E development.
The Moho Nord project includes a tension leg platform, which is a floating production unit with a processing capacity of 100,000bpd ; and a new 50 mile pipeline to the onshore Djeno terminal.
The project, which is estimated to cost nearly $10bn, will produce 140,000bpd of crude oil at its peak production, expected in 2017.
First oil flow will start from the Moho Bilondo "Phase 1 bis" project in 2015, while first oil from the Moho Nord project will start in the subsequent year.