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Chevron (CVX) plans to acquire interest in the AREA OFF-1 block, offshore Uruguay, from Challenger Energy and its subsidiary CEG Uruguay SA.

Challenger Energy has transferred a 60% interest in the block to US-based Chevron's subsidiary, Chevron Mexico Finance, Sucursal Uruguay for a cash consideration of $12.5m (514.93m pesos).

Chevron will assume operatorship of the block, and CEG Uruguay will retain a 40 percent non-operating interest in the block. Chevron will pay $12.5 million in cash to CEG upon completion of the ...

Chevron , opens new tab, the operator of Suriname's offshore block 5, will retain a 40% interest, while Paradise Oil Company, an affiliate of Suriname's state oil firm Staatsolie, will own the ...

Chevron also holds 33.3% of Block 42 off the country's coast with partners KE Suriname BV and a unit of U.S. Hess Corp HES.N. (Reporting by Ank Kuipers in Paramaribo and Marianna Parraga in ...

Chevron has officially assumed its position as the operator of the AREA OFF-1 block offshore Uruguay after completing the farm out transaction with Challenger Energy. Challenger Energy has ...