The Nigeria – São Tomé and Príncipe Joint Development Authority (JDA) has awarded ChevronTexaco JDZ Ltd. exploration rights in deepwater block-1 in the joint development zone (JDZ).
The award follows the company's $123 million bid for the block, offshore São Tomé and Príncipe and Nigeria, which was unveiled at a public ceremony in São Tomé in October 2003.
ChevronTexaco will be operator with a 51% interest in the block, 190 mi north of São Tomé in 5,700 ft of water. ExxonMobil has won a 40% interest. The remaining 9% has been awarded to the Norwegian company Equity Energy Resources.