The American Business Journal: Chevron obtains interest in Pearl River Mouth Basin exploration blocks

Chevron obtains interest in Pearl River Mouth Basin exploration blocks
================================================================================
Business News on 08 September, 2010 09:28:00
 
ABJ Sep 8 - Chevron’s China subsidiary has received approval to acquire
three exploration blocks in the Pear River Mouth Basin of the South China Sea.
“Participating in the exploration of this prospective deep water basin
furthers our strategy to grow our business in China and the Asia Pacific
region,” Chevron Vice Chairman George Kirkland said to press.
The blocks cover approximately 8,100 square miles. The company will be the
exploration operator during this phase under agreements with China National
Offshore Oil Corporation under their production sharing contract.
Jim Blackwell, president, Chevron Asia Pacific Exploration and Production, said
to press, “We welcome the opportunity to partner with CNOOC and apply our
industry-leading drilling technology, expertise, and safety practices to explore
the South China Sea’s deep water areas.”