Chevron Secures Four Blocks in Norwegian Sea

25 April 2011 (Last Updated April 25th, 2011 18:30)

Chevron Upstream Europe has bid for the exploration rights of four blocks awarded in the Norwegian 21st licensing round. The blocks are situated in the Outer Voring Basin of the Norwegian Sea, about 540km west of the coast of Bodo in 6,824ft of water. Chevron Norge has been s

Chevron Upstream Europe has bid for the exploration rights of four blocks awarded in the Norwegian 21st licensing round.

The blocks are situated in the Outer Voring Basin of the Norwegian Sea, about 540km west of the coast of Bodo in 6,824ft of water.

Chevron Norge has been selected as the operator of the production licence PL598, comprising blocks 6601/6 and 9, and 6602/4 and 7, holding 40% interest.

Other companies owning the blocks include ExxonMobil Exploration & Production Norway with 30%, Idemitsu Petroleum Norge with 10% and Petro with 20% equity interest.

Chevron Europe, Eurasia and Middle East president Guy Hollingsworth said Chevron is committed to building a focused portfolio of key exploration prospects worldwide.

“This is Chevron’s second award in the deep water of the Norwegian Sea and as operator, we look forward to working with our partners and bringing our technical expertise and capabilities to this high-potential area, Hollingsworth added.