Exploration & Production | Capital Markets | Private Equity Activity
Chevron Enters Into Agreement With Kosmos Energy
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Chevron Corporation has reported that its wholly owned subsidiary Chevron Global Energy Inc. 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. "These blocks are on trend with new deepwater Cretaceous discoveries in the region."
Blocks 42 and 45 are approximately 155 miles (250 kilometers) from Paramaribo and…
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