Maersk, Chevron sign collaborative exploration agreement

Maersk Oil Gulf of Mexico Three has signed a collaborative exploration agreement with Chevron USA for a multi-well package in the central US Gulf of Mexico.

Offshore staff

COPENHAGEN, Denmark -- Maersk Oil Gulf of Mexico Three has signed a collaborative exploration agreement with Chevron USA for a multi-well package in the central US Gulf of Mexico. Under the agreement, a number of exploration wells will be drilled in the area over the next few years. Drilling of the first four wells is due to start over the next six months, the companies say. Maersk Oil's working interest will be around 20%.

Maersk Oil also reports that after the US Gulf of Mexico Western Lease Sale 207 held in August 2008, the company and Hess Corp. expect to be awarded six exploration blocks where Maersk Oil will hold a 33% interest.

09/02/2008

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