Thursday 21 April 2011

Chevron announces successful bids

Chevron Upstream Europe has been granted permission to explore four blocks 335 miles of the west coast of Bodø, in northern Norway.

Chevron Norge AS has been appointed as the operator with a 40% equity in Production Licence. Chevron shares the area with ExxonMobil Exploration & Production Norway AS with 30% equity interest, Idemitsu Petroleum Norge AS with 10% equity interest and Petoro AS with 20% equity interest.

Guy Hollingsworth, President of Chevron Europe, Eurasia and Middle East. "We view the deep waters of the Norwegian Sea as an area of significant resource potential and this acquisition advances our strategy of pursuing attractive and high-impact growth opportunities."

The bids were awarded in the Norwegian 21st Licensing Round.