Chevron Awarded Exploration Rights in the Norwegian Sea (CVX)

Chevron Upstream Europe CVX, a strategic business unit of Chevron's Europe, Eurasia and Middle East (EEME) Operating Company today announced that it has successfully bid for the exploration rights in four blocks awarded in the Norwegian 21st Licensing Round. The blocks are located in the Outer Vøring Basin in the Norwegian Sea, approximately 335 miles (540 kilometres) west of the coast of Bodø, in 6824 feet (2080 metres) of water. Chevron Norge AS has been appointed as the operator with a 40 percent equity in Production Licence PL598 comprising the blocks 6601/6 and 9 and 6602/4 and 7. The other participants in the blocks are ExxonMobil Exploration & Production Norway AS with 30 percent equity interest, Idemitsu Petroleum Norge AS with 10 percent equity interest and Petoro AS with 20 percent equity interest.