Iraq: Chevron acquires Reliance stake in two blocks

By OGJ editors

Chevron Corp. subsidiaries have completed a transaction to acquire interests in two blocks in the Kurdistan Region of Iraq.

Chevron will acquire Reliance Exploration & Production DMCC’s 80% interest and operatorship of the production sharing contracts covering the Rovi and Sarta blocks. The blocks cover a combined 490 sq miles north of Erbil.

Chevron subsidiaries will partner with OMV Rovi GmbH and OMV Sarta GmbH, which hold 20% interest in the two blocks.

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