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CV1
(redirected from Core Venture 1)

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AcronymDefinition
CV1Core Venture 1 (Ghawar gas field drilling project)


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Core Venture Investors * Core Venture 1 (South Ghawar), $10bn-15bn: ExxonMobil 35% Shell 25% BP 25% Philips Petroleum 15% * Core Venture 2 (Red Sea Area), $5bn-7bn: ExxonMobil 60% Marathon Oil Company 20% Occidental Petroleum Corp 20% * Core Venture 3 (Shaybah), $5bn-7bn: Shell 40% Conoco 30% TotalFinaElf 30% Sources: Energy Information Administration
Dingle was appointed to his current position on June 3, 2001, following the Saudi Arabian Government's announcement of ExxonMobil as the leader and operator for Core Venture 1 in the Saudi Arabian Gas Initiative.
The following are brief profiles of the three core ventures and the companies involved: Core Venture 1 - South Ghawar: Its consortium consists of ExxonMobil, as project leader with an equity of 35%; the Royal Dutch/Shell group (25%); BP (25%); and Phillips Petroleum (15%).
 
 
 
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