Chevron New Zealand Exploration Ltd., the subsidiary of Chevron Corporation, has been granted exploration rights to three blocks located offshore New Zealand.
This project continues to add to Chevron’s range of potential long-term options in the Asia-Pacific region.
The three petroleum exploration permits – 57083, 57085, and 57087 – will cover more than 6.26 million acres (25,300 sq. km) in the offshore Pegasus and East Coast basins, southeast of North Island.
Chevron New Zealand Exploration Ltd will operate the blocks with 50% working interest, while Statoil will hold the remaining 50% interest.
Chevron has been operating in New Zealand’s downstream sector for more than 90 years, and the group plans to continue to build on these relationships with communities and governments moving forward.