Read the Report - Chevron
Read the Report - Chevron
Read the Report - Chevron
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GUINEASIERRALEONELIBERIAMonroviaCÔTED’IVOIRELB-14LB-12LB-11ATLANTIC OCEAN<strong>Chevron</strong> InterestThese were <strong>the</strong> first blocks to besigned by an oil and gas super major.In 2012, ENI, a valued internationalpartner, acquired a 25 percentinterest in <strong>the</strong>se three blocks,reducing <strong>Chevron</strong>’s equity to45 percent. Oranto Petroleum Ltd.,a British Virgin Islands company,holds <strong>the</strong> remaining 30 percentinterest in <strong>the</strong> blocks. Upon success,<strong>the</strong> National Oil Company of Liberia(NOCAL) will assume a 10 percentinterest, and Oranto will retain20 percent.being processed and integrated into<strong>the</strong> company’s geologic models. Weare pleased that NOCAL has granted<strong>Chevron</strong> Liberia Limited and ourpartners <strong>the</strong> opportunity to enterinto <strong>the</strong> next phase of explorationfor both LB-11 and LB-12. This willallow <strong>Chevron</strong> Liberia Limited andour partners to drill two additionalexploration wells and to begin <strong>the</strong>process of prospect maturation and<strong>the</strong> contracting of a rig to carry outthis program.The blocks are part of an emergingWest African trend, where severaldiscoveries have recently beenannounced and are located between12 miles and 110 miles (20 km and180 km) south of <strong>the</strong> Liberian capitalof Monrovia. The total area of <strong>the</strong>seblocks cover 3,700 square miles(9,600 sq km).In 2012, <strong>Chevron</strong> Liberia Limitedcompleted <strong>the</strong> drilling of twoexploration wells, Nighthawk in LB-11and Carmine Deep in LB-12, with<strong>the</strong> Transocean drillship DiscovererSpirit. The data from <strong>the</strong>se wells are2012 Corporate Responsibility <strong>Report</strong> | 5