Chevron buys Reliance oil blocks in KRG

Chevron has confirmed that it will acquire the interest in two exploration blocks in the Kurdish region of Iraq from India’s Reliance Industries.

Chevron will acquire Reliance Exploration & Production's 80% interest and operatorship of the production sharing contracts (PSCs) covering the Rovi and Sarta blocks.

The blocks are located north of Erbil and cover a combined area of approximately 490 square miles (1,124 square kilometers).