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Stock Market & Financial Investment News

News Breaks
January 22, 2013
10:25 EDTCVXChevron signs agreement for exploration areas offshore Morocco
Chevron Corporation announced that its subsidiary, Chevron Morocco Exploration Ltd, signed petroleum agreements with Morocco’s Office National Des Hydrocarbures Et Des Mines for three offshore areas. Once awarded, Chevron will acquire seismic data and conduct studies in deepwater areas known as Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep located between 60 and 120 miles west and northwest of Agadir, Morocco. The areas encompass approximately 11,300 square miles with average water depths ranging from between 330 feet to 14,700 feet. Chevron Morocco Exploration Ltd has a 75% working interest in the three areas, with the Office National Des Hydrocarbures Et Des Mines holding the remaining 25%.
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