The two blocks 42 and 45 are located around 155 miles from Paramaribo and cover a combined area of about 2.8 million gross acres, at water depths ranging between 650 and 8,500ft.
Chevron vice chairman George Kirkland said this agreement enables it to explore for new resources in this frontier basin.
"These blocks are on trend with new deepwater Cretaceous discoveries in the region," Kirkland added.
Chevron Africa and Latin America Exploration and Production Company president Ali Moshiri said, "These blocks will expand our exploration portfolio in Latin America."
Kosmos, under the agreement, will own 50% working interest and will be the operator of the blocks until the end of the exploration phase while Chevron will assume 50% working interest and will be the operator following any commercial discoveries.
