Chevron Corp's Chevron Global Energy Inc. Enters Into Agreement With Kosmos Energy Ltd To Explore Offshore Suriname

Chevron Corp announced that its wholly owned subsidiary Chevron Global Energy Inc. (Chevron) will be assigned a 50% working interest in Blocks 42 and 45 offshore Suriname through an agreement with Kosmos Energy. Under the agreement, Kosmos will have a 50% working interest and remain operator of both blocks until the end of the exploration phase. Chevron will assume the remaining 50% working interest and will be the operator following any commercial discoveries. 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).