Qatar Petroleum entered into an agreement with Eni to acquire 25.5% participating interest in block A5A, located in the Angoche basin, offshore the Republic of Mozambique.
The agreement is subject to customary regulatory approvals by the government of Mozambique. Following such approvals, the partners holding participating interest in the block will be affiliates of Eni (operator) with a 34% participating interest, Empresa Nacional de Hidrocarbonetos (ENH) with a 15% participating interest, Sasol with a 25.5% participating interest, and Qatar Petroleum with 25.5% participating interest.
Minister of State for Energy Affairs and President and CEO of Qatar Petroleum said Saad Sherida Al Kaabi they are pleased to sign the agreement and participate in exploring the frontier offshore basin and strengthen their presence in Mozambique.
By entering into this new agreement, we aim at expanding our exploration portfolio to ensure diversification of geographies as well as geologies and basins. Having a large and diversified exploration portfolio is a key long-term objective for Qatar Petroleum and essential for success.’
Block A5A lies in the Angoche basin and located adjacent to block A5B. It covers a total area of around 5,133 square kilometre in water depths ranging from about 300 to 1,800 metres.
Following Qatar Petroleum’s growth strategy, this opportunity further strengthens Qatar Petroleum’s international oil and gas portfolio with the addition of a block in a frontier exploration basin with significant hydrocarbon resource potential.
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