The offshore blocks, Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep, are located between 60 and 120 miles west and northwest of Agadir, Morocco.
Covering a total area of about 11,300 square miles, the blocks are situated at an average water depths ranging between 330ft to 14,700ft.
Following the completion of the deal, the company will acquire seismic data and conduct studies in the deepwater blocks.
Chevron Africa and Latin America Exploration and Production Company president Ali Moshiri said, "This is an opportunity for Chevron to expand its already strong presence in the region and allows us to acquire further knowledge about promising geology in an emerging area."
Post transaction, Chevron Morocco Exploration will hold 75% working interest in the three blocks, while the Office National Des Hydrocarbures Et Des Mines will have the remaining 25% interest.
