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
What does CV2 stand for?
CV2 stands for Core Venture 2 (Red Sea gas field drilling project)
This definition appears rarely and is found in the following Acronym Finder categories:
- Business, finance, etc.
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- Core Venture 1 (Ghawar gas field drilling project)
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- Core Venture 3 (Shaybah gas field drilling project)
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Samples in periodicals archive:
SAUDI GAS INITIATIVE - PETROCHEMICAL ELEMENTS Venture Ownership Products Location/Date Core Venture 1 ExxonMobil 35% Ethylene & Derivatives Jubail 2006 Shell 25% BP 25% Phillips 15% Core Venture 1 Same Ethylene & Derivatives Yanbu 2006 Core Venture 2 ExxonMobil 60% Ethylene & Derivatives Yanbu 2006 Occidental 20% Marathon 20% Core Venture 3 Shell 40% Ethylene & Derivatives Jubail 2006 TotalFinaElf 30% Conoco 30% Preliminary Agreements were recently signed by the Saudi Government with three consortia of international oil companies for development of the Kingdom's natural gas resources.
ExxonMobil, Occidental and Enron were chosen for the Red Sea project, or Core Venture 2.