Chevron Inks Deal for Three Exploration Area Offshore Morocco

Chevron Corporation through its subsidiary, Chevron Morocco Exploration Ltd, signed petroleum agreements with Morocco's Office National Des Hydrocarbures Et Des Mines for three offshore areas.

The US firm will acquire seismic data and conduct studies in deepwater areas known as Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep located between 60 and 120 miles (100 to 200 kilometers) west and northwest of Agadir, Morocco. The areas encompass approximately 11,300 square miles (29,200 square kilometers) with average water depths ranging from between 330 feet to 14,700 feet (100 meters to 4500 meters).

Chevron Morocco Exploration Ltd has a 75 percent working interest in the three areas, with the Office National Des Hydrocarbures Et Des Mines holding the remaining 25 percent.