Chevron to acquire Liberian deepwater concessions

Energy corporation Chevron has announced that it has been granted approval by the Liberian government to acquire a 70 per cent interest and operatorship in three deepwater concessions in Liberia.

The deepwater blocks, LB-11, LB-12 and LB-14, are located 20-180km south of the capital of Monrovia and cover a combined area of 9,600km2.

Under the agreement, Chevron’s Liberian subsidiary will conduct a three-year exploratory programme that is expected to begin in the fourth quarter of 2010.