Chevron will operate the joint venture after buying stakes in BP discovery duo Tiber and Gila, while the exploration trio are already working together on the area’s Gibson prospect.
The deal involves BP selling Chevron about half of its prior equity in the Gila and Tiber fields.
The explorers have agreed joint interests in the Gibson area that was previously spread between them across six leases and where BP says drilling will now take place this year.
The
