Wednesday, September 1, 2010

Chevron (NYSE:CVX) Signs Deepwater Offshore Deal with Liberia

In a offshore deepwater exploration deal, Chevron (NYSE:CVX) have been granted three deepwater concessions by Liberia to explore for oil off its coasts.

President of Liberia, Ellen Johnson Sirleaf, said about the deal, “We are delighted to welcome Chevron as a partner for Liberia to explore our oil and gas assets. Along with its investment, Chevron will bring the latest technologies, best practices in transparency and efficiencies, and an excellent record of community and social responsibility."

Anadarko Petroleum Corp. (NYSE:APC), among a number of other exploration companies, have also been awarded exploration rights.

A government statement said Chevron should begin exploration sometime in the fourth quarter.

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