BP has agreed to sell about half of its interests in Gila and Tiber fields to Chevron, which will operate the leases for these fields as well as the Gibson exploration blocks, located east of Gila, in the north-west area of Keathley Canyon.
The Tiber and Gala fields were discovered in 2009 and 2013, respectively.
Last October, BP participated as a co-owner in the Chevron-operated Guadalupe discovery.
The three companies will now evaluate the potential of a centralised production facility.
This facility will offer enhanced capital efficiency, similar to Chevron’s Jack/St. Malo project.
Chevron senior vice-president for upstream Jay Johnson said: "We will work with our co-owners to evaluate how to develop these leases, along with our recently announced discovery at Guadalupe."
Chevron expects to develop the discovery at Guadalupe, located next to Keathley Canyon, using the centralised production facility.
Chevron, BP, and Venari, which together own Guadalupe field, will assess the options in the upcoming appraisal phase of the discovery.
