| Description: | ChevronTexaco JDZ Limited, has been awarded the right to conduct exploration activities in deepwater Block-1 in the Joint Development Zone (JDZ). The award follows the company's $123 million bid for the block, located offshore São Tomé and Príncipe and Nigeria, which was unveiled at a public ceremony in São Tomé in October 2003. ChevronTexaco will be operator with a 51 percent interest in the block, located approximately 190 miles (300 kilometers) north of the city of São Tomé in 5,700 feet (1,750 meters) of water. |
