Chevron Corp.’s wholly owned subsidiary Chevron Mauritania Exploration Ltd. has reached an agreement to acquire a 30% nonoperated working interest in blocks C8, C12 and C13 offshore Mauritania from Kosmos Energy, according to a press release. The transaction is subject to the approval of Mauritania's government.
Blocks C8, C12 and C13 cover a contiguous area of approximately 6.6 million gross acres in water depths ranging between 1,600 m (5,249 ft) and 3,000 m (9,842 ft).
Under the agreement, Kosmos Energy retains a 60% interest and remains the operator. Société Mauritanienne des Hydrocarbures et de Patrimoine Minier, Mauritania's national oil company, will continue to have a 10% interest. Following any commercial discovery after the exploration phase, Chevron will become the operator maintaining a 30% working interest.
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