Chevron (CVX) Joins Forces With Challenger for Offshore Uruguay Block
Chevron Corporation’s CVX subsidiary Chevron Uruguay Exploration Limited entered into an agreement with Challenger Energy’s wholly-owned Uruguayan subsidiary, CEG Uruguay SA, for acquiring 60% interest in the AREA OFF-1 block offshore Uruguay. This agreement marks a significant development for both companies, with Chevron bringing its vast experience and resources to the project, and Challenger benefiting from a major partner to accelerate exploration efforts.