QP, Chevron Ink Offshore Moroccan Deal
Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in the Kingdom of Morocco. ​Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the deep-water leases, while Chevron will retain a 45% interest and remains the operator and Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest. The three offshore areas are Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep. “It is no coincidence that Qatar Petroleum’s international presence is now extended to Morocco, a country which Qatar enjoys special relations with,” he added.
Offshore Suriname to be Explored by Chevron
Chevron Corporation announce that its wholly owned subsidiary Chevron Global Energy Inc. (Chevron) will be assigned a 50 percent working interest in Blocks 42 and 45 offshore Suriname through an agreement with Kosmos Energy. Under the agreement, Kosmos will have a 50 percent working interest and remain operator of both blocks until the end of the exploration phase. Chevron will assume the remaining 50 percent working interest and will be the operator following any commercial discoveries. “This agreement enables us to explore for new resources in this frontier basin,” said George Kirkland, vice chairman, Chevron Corporation. Blocks 42 and 45 are located approximately 155 miles (250 kilometers) from Paramaribo and cover a combined area of approximately 2.8 million gross acres…
