Qatar Petroleum joins ExxonMobil in frontier Mozambique blocks

Qatar Petroleum has agreed to acquire 10% interests in three exploration blocks offshore Mozambique.

Offshore staff

DOHA, QatarQatar Petroleum has agreed to acquire 10% interests in three exploration blocks offshore Mozambique.

Subject to regulatory approvals, the company will join operatorExxonMobil, Rosneft, and Mozambique state oil company ENH in the A5-B block in the Angoche basin in water depths of 1,800 to 2,500 m (5,905 to 8,202 ft), and Z5-C and Z5-D in the Zambezi basin, where water depths range from 200-2,000 m (656-6,562 ft).

Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum, said the company’s decision was in line with its strategy of entering prospective frontier basins “with significant hydrocarbon resource potential.”

12/10/2018

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