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Chevron Corp Completes Acquisition Of Kurdistan Concessions; Acquires Rovi and Sarta Blocks From Reliance Exploration & Production DMCC; Enters Into partner With OMV Rovi GmbH and OMV Sarta GmbH
Chevron Corp announced that its subsidiaries have completed a transaction to acquire interests in two blocks in the Kurdistan Region of Iraq. Chevron will acquire Reliance Exploration & Production DMCC’s 80% interest and operatorship of the production sharing contracts (PSCs) covering the Rovi and Sarta blocks. The blocks are located north of Erbil and cover a combined area of approximately 490 square miles (1,124 square kilometers). Chevron subsidiaries will partner with OMV Rovi GmbH and OMV Sarta GmbH, which hold 20% interest in the Rovi and Sarta PSCs, respectively.
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