FREE Breaking News Alerts from StreetInsider.com!
E-mail Address
Top News Most Read Highlighted
Get Alerts CVX Hot Sheet
BUY (= Flat)
Chevron (NYSE: CVX) announced that its China subsidiary has entered into production sharing contracts (PSC) with China National Offshore Oil Corporation (NYSE: CEO) for two exploration blocks in the South China Sea’s Pearl River Mouth Basin.
Under the PSC agreements, Chevron China Energy Company will hold a 100 percent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks, which in total cover an area of approximately 2,233 square miles (5,782 square km).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items – JOIN NOW