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Chevron buys in to Mauritania offshore blocks

04th February 2015

Chevron Corporation has announced that its wholly-owned subsidiary Chevron Mauritania Exploration Limited has reached an agreement to acquire a 30 per cent non-operated working interest in Blocks C8, C12 and C13 offshore Mauritania from Kosmos Energy

Chevron Corporation has announced that its wholly-owned subsidiary Chevron Mauritania Exploration Limited has reached an agreement to acquire a 30 per cent non-operated working interest in Blocks C8, C12 and C13 offshore Mauritania from Kosmos Energy
Under the agreement, Kosmos Energy retains a 60 per cent interest and remains the operator.

Blocks C8, C12 and C13 cover a contiguous area of approximately 6.6 million gross acres in water depths ranging between 1,600 metres and 3,000 metre).

The transaction is subject to the approval of Mauritania's government.

Under the agreement, Kosmos Energy retains a 60 per cent 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 per cent interest.

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

 

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