Qatar Petroleum farms in to Mozambique exploration block
Qatar Petroleum has reached an agreement with Eni SPA to farm in to Block A5A in the Angoche basin offshore Mozambique.
Saad Sherida Al-Kaabi, minister of state for energy affairs and QP president and chief executive officer, said the deal is part of a strategy to expand the company’s exploration portfolio “to ensure diversification of geographies as well as geologies and basins.”
Block A5A, which covers 5,133 sq km in 300-1,800 m of water, is adjacent to Block A5B where a QP affiliate in December 2018 acquired 10% participating interest from an ExxonMobil Corp. affiliate, marking its first foray into Mozambique.
After the deal closes, QP will hold 25.5% participating interest in Block A5A with partners operator Eni 34%, Empresa Nacional de Hidrocarbonetos 15%, and Sasol 25.5%.