Chevron acquires deepwater exploration interests offshore Mauritania

Offshore staff

SAN RAMON, California – Chevron Corp. subsidiary Chevron Mauritania Exploration Ltd. has reached an agreement to acquire a 30% non-operated working interest in blocks C8, C12, and C13 offshore Mauritania from Kosmos Energy. The transaction is subject to the approval of Mauritania’s government.

Blocks C8, C12, and C13 cover a contiguous area of about 6.6 million gross acres in water depths ranging between 5,249 and 9,842 ft (1,600 and 3,000 m).

Under the agreement, Kosmos Energy retains a 60% interest and remains the operator. Société Mauritanienne des Hydrocarbures et de Patrimoine Minier (SMHPM), Mauritania’s national oil company, will continue to have a 10% interest.

Following any commercial discovery after the exploration phase, Chevron will become the operator maintaining a 30% working interest.

02/04/2015

Offshore Mauritania
(Map courtesy Business Wire)

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