Exploration agreement with Chevron
Maersk Oil Gulf of Mexico Three LLC, a subsidiary of Maersk Oil America, has signed a collaborative exploration agreement for a multi-well package with Chevron U.S.A. Inc. (Chevron) in the central deep water US Gulf of Mexico. Under this agreement, a number of exploration wells over the next few years will be drilled in the area with the first four due to commence over the next six months. In addition to Chevron, it is expected that there will be other co-owners, varying from prospect to prospect. Maersk Oil’s working interest will be around 20%.
The assignment of lease interests to Maersk Oil under this agreement is subject to approval by the US Department of Interior’s Minerals Management Service (MMS).
Lease Sale 207
After the US Gulf of Mexico Western Lease Sale held in August 2008, Maersk Oil and Hess Corporation expect to be awarded six exploration blocks where Maersk Oil will hold a 33% interest.
Maersk Oil already participates in joint ventures with Hess Corporation and ExxonMobil and currently holds interests in some 120 leases in the US Gulf of Mexico.
Chairman of Maersk Oil America, Thomas Thune Andersen, says:
“We welcome this expansion of our exploration activities in the US Gulf of Mexico through the new agreements with both Chevron and Hess. The aim is to carry out exploration drilling in the near future in the leases held by Chevron.”
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