QatarEnergy, the state-owned petroleum company, has entered into an agreement with Shell, a global energy company, to acquire a 40 percent working interest in the C-10 block located offshore Mauritania.
Under the terms of the agreement, and subject to customary approvals by the government of Mauritania, QatarEnergy will hold a 40 percent working interest in the Exploration and Production Agreement pertaining to the C-10 block.
Shell, the operator, will hold a 50 percent interest, while Societe Mauritanienne des Hydrocarbures, (SMH) will hold a 10 percent interest.
“We’re excited about the opportunity to participate in Mauritania upstream sector which further builds on our exploration footprint in Africa, and we look forward to a successful exploration program. We are delighted to have the opportunity to work with our strategic partner Shell and with SMH. We also look forward to collaborating with the Mauritanian government and thank them and our partners for their valuable support and cooperation.”
The C-10 block covers a total area of approximately 11,500 square kilometers and is located approximately 50 kilometers off the coast of Mauritania in water depths of approximately 50 to 2,000 meters.
Recently, QatarEnergy entered into a farm-in agreement with ExxonMobil Canada for two exploration licenses offshore in the province of Newfoundland and Labrador in Canada.