Chevron Corporation (NYSE:CVX) announced that its wholly owned subsidiary  Chevron Global Energy Inc. (Chevron) will be assigned a 50 percent working  interest in Blocks 42 and 45 offshore Suriname through an agreement with Kosmos  Energy. Under the agreement, Kosmos will have a 50 percent working interest and  remain operator of both blocks until the end of the exploration phase. Chevron  will assume the remaining 50 percent working interest and will be the operator  following any commercial discoveries.
‘This agreement enables us to  explore for new resources in this frontier basin,’ said George Kirkland, vice  chairman, Chevron Corporation. ‘These blocks are on trend with new deepwater  Cretaceous discoveries in the region.’
Blocks 42 and 45 are located  approximately 155 miles (250 kilometers) from Paramaribo and cover a combined  area of approximately 2.8 million gross acres, at water depths ranging between  650 and 8,500 feet (200-2600 meters).
‘We are very pleased to participate  in Suriname’s emerging energy sector,’ said Ali Moshiri, president of Chevron  Africa and Latin America Exploration and Production Company. ‘These blocks will  expand our exploration portfolio in Latin America.’
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