Chevron Builds Up Deepwater Portfolio In West Africa

Law360, New York (September 26, 2012, 1:41 PM EDT) -- Chevron Corp. has won drilling rights at two deepwater blocks near Sierra Leone, the company said Wednesday, continuing its focus on western Africa, where success from early wildcatters is now drawing in the oil majors.

The two blocks, combined under a single government concession, are located 75 to 110 miles offshore in water as deep as 9,800 feet, approaching Gulf of Mexico depth. Chevron will be the operator, with a 55 percent stake. Noble Energy Inc., which is already producing oil off the coast of Cameroon,...
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