QatarEnergy, the state-owned petroleum firm, has entered into an settlement with Shell, a worldwide power firm, to accumulate a 40 % working curiosity within the C-10 block positioned offshore Mauritania.
Beneath the phrases of the settlement, and topic to customary approvals by the federal government of Mauritania, QatarEnergy will maintain a 40 % working curiosity within the Exploration and Manufacturing Settlement pertaining to the C-10 block.
Shell, the operator, will maintain a 50 % curiosity, whereas Societe Mauritanienne des Hydrocarbures, (SMH) will maintain a ten % curiosity.
“We’re excited concerning the alternative to take part in Mauritania upstream sector which additional builds on our exploration footprint in Africa, and we stay up for a profitable exploration program. We’re delighted to have the chance to work with our strategic companion Shell and with SMH. We additionally stay up for collaborating with the Mauritanian authorities and thank them and our companions for his or her priceless help and cooperation.”
The C-10 block covers a complete space of roughly 11,500 sq. kilometers and is positioned roughly 50 kilometers off the coast of Mauritania in water depths of roughly 50 to 2,000 meters.
Just lately, QatarEnergy entered right into a farm-in settlement with ExxonMobil Canada for 2 exploration licenses offshore within the province of Newfoundland and Labrador in Canada.