As part of the transaction, Chevron will acquire 80% interest and operatorship of the production prospects of Reliance Exploration & Production DMCC, covering the Rovi and Sarta blocks.
Located north of Erbil, the blocks cover a combined area of approximately 1,124 square kilometers.
A partnership will be formed by Chevron subsidiaries with OMV Rovi and OMV Sarta, which hold 20% interest in the Rovi and Sarta PSCs, respectively.
California-based Chevron produces and transports crude oil and natural gas, manufactures and sells petrochemical products; generates power, and provides energy efficiency technologies globally.
