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)

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...