Chevron has worked closely with BANOCO
since the late 1970s on reservoir management, and we are looking forward to continuing our mutually beneficial relationship," said Richard Matzke, president of Chevron Overseas Petroleum Inc.
Unless commercial production is found, this acreage expires and reverts back to BANOCO
in July 1995.
Subject to obtaining the necessary consents from BANOCO
, Harken will begin discussions with other identified parties toward participating in future wells which may be drilled on the Bahrain project.