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Chevron ready for major North Sea investment

Another oil company shows signs of restored faith in the North Sea and is now preparing an investment which could trigger a USD 100 million reward for Dong Energy despite divestment.

US oil major Chevron is preparing to boost its commitment in the North Sea.

Apart from an upcoming investment decision to extend the life of its 20-year-old Captain field 145 kilometers northeast of Aberdeen, the oil company is planning to kick-start the region's largest undeveloped field Rosebank, northwest of the Shetland Islands, reports the Financial Times.

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