Chevron to operate deepwater concessions off Liberia

Chevron Corp. has received permission from the Liberian government to acquire 70% interest and operatorship of three deepwater concessions.

Offshore staff

SAN RAMON, California – Chevron Corp. has received permission from the Liberian government to acquire 70% interest and operatorship of three deepwater concessions. Chevron says its Liberian subsidiary plans to begin a three-year exploration program in 4Q 2010.

The deepwater blocks, LB-11, LB-12, and LB-14, are 12 to 110 mi (20 to 180 km) south of the capital of Monrovia and cover a combined area of 3,700 sq mi (9,600 sq km).

"These licenses are on trend with new deepwater Cretaceous discoveries in the region and will expand our exploration portfolio in offshore West Africa which has delivered significant production from several basins," said Ali Moshiri, president, Chevron Africa and Latin America Exploration and Production.

09/08/2010

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