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Chevron to buy 30% stake in 6.6 million acres off Mauritania

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Published Wed, Feb 4, 2015 · 02:18 PM

    [LONDON] Chevron Corp agreed to buy a 30 per cent stake in 6.6 million acres of offshore oil blocks in Mauritania from Kosmos Energy Ltd.

    Kosmos will retain a 60 per cent stake and operate the fields until any commercial discovery is made, after which Chevron will become operator, Chevron said in a statement Wednesday. Terms won't disclosed.

    Mauritania's national oil company holds a 10 per cent stake and government approval is needed for the sale.

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    Chevronoil

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