DOW JONES NEWSWIRES

Chevron Corp. (CVX) announced the discovery of an oil-and-gas find off the coast of Angola that the company deemed "significant."

From a single discovery well in 400 feet of water, it had output at a rate of 11.6 million cubic feet of natural gas and 2,550 barrels of liquid hydrocarbons a day.

Chevron has a 39% stake in the area in question, located near the West African country's coastline, while national oil company Sonangol EP has a 41% interest. Total SA (TOT) and Eni SpA (E) each hold 10%.

Angola's oil sector has expanded rapidly and formed the basis of its recovery from a civil war that ended in 2002. Last year, Angola was able to take advantage of high oil prices by ramping up production, becoming Africa's largest producer at one point in 2008. The country's reserves are mostly untapped.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; tess.stynes@dowjones.com