The other participants in the blocks are StatoilHydro ASA (StatoilHydro) with 20% equity interest, Royal Dutch Shell plc (Shell) with 20% equity interest and SD0E with 20% equity interest.
Chevron is committed to building a focused portfolio of key exploration prospects worldwide, said Guy Hollingsworth, President of Chevron Europe, Eurasia and Middle East. We view the Outer Voring as an area of significant resource potential and this acquisition advances our strategy of pursuing attractive and high-impact growth opportunities. Hollingsworth added, It’s Chevron’s first 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.
The license was applied for jointly with StatoilHydro and Shell under an Area of Mutual Interest (AMI) agreement.
Rick Cohagan, managing director of Chevron Upstream Europe said, The agreement complements the strengths of the three companies — Chevron’s exploration experience from the West of Shetland and Statoil and Shell’s significant regional knowledge and long-term operational experience in the Norwegian Sea.
