Chevron to Take Stake Offshore Liberia

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Chevron has been granted approval by the Liberian government to acquire a 70% operating interest in three deepwater concessions offshore Liberia. Under the agreement, Chevron will conduct a three-year exploratory program beginning in the fourth quarter of 2010. The three deepwater blocks, LB-11, LB-12 and LB-14, are located 12 to 110 miles (19 to 177 kilometers) south of Monrovia and cover a combined area of 2 million acres (9,600 square kilometers).

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