US oil company Chevron Texaco has discovered oil in an offshore zone between the west African nations of Sao Tome and Principe and Nigeria, it is reported on Thursday here.

The report quoted the area's development authority as saying that "at this stage, it is premature to determine whether or not Chevron and its co-venturers have made a commercial discovery," the Joint Development Authority said in a statement.

According to the report, the discovery was made in the Obo-1 block, some 1,720 meters under the sea, around 200 kilometers south of Port Harcourt in Nigeria's oil-rich Delta region and 300 kilometers north of the island of Sao Tome.

Drilling started in January, and was completed on March 15. Chevron has a 51 percent stake in the block, Exxon Mobil Corp 40 percent and Dangote Energy 9 percent.

Sao Tome and Principe and Nigeria decided in 2004 to work together to develop joint offshore blocks in the Gulf of Guinea.

Source: Xinhua