SAN DONATO MILANESE, Italy – Eni has agreed to farm out a 30% interest in the Tarfaya Offshore Shallow Petroleum Agreement to Qatar Petroleum, subject to approval by the Moroccan authorities.
The 23,900-sq km (9,228-sq mi) Tarfaya Area, covering 12 exploration blocks, is in waters up to 1,000 m (3,281 ft) deep off the country’s southern coast.
Eni Maroc operates in partnership with state-owned Office National des Hydrocarbures et des Mines (ONHYM).
Currently the focus is on geological and geophysical studies to fulfil commitments for the first exploration period work program.
Assuming clearance for the transaction, Eni will have a 45% interest, Qatar Petroleum 30%, and ONHYM 25%.