State-owned Qatar Petroleum has entered into three farm-in agreements to amass about 30 per cent of Total’s collaborating curiosity in three blocks positioned offshore Mexico.
Qatar Petroleum stated on Wednesday that the blocks in query, Block 15, 33, and 34, are positioned within the Campeche Basin.
the corporate, every of the farm-in agreements is topic to customary regulatory
and different approvals by Total’s present companions and the federal government of Mexico.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and CEO of Qatar Petroleum, stated: “We are happy to signal these agreements, which additional broaden Qatar Petroleum’s footprint in Mexico, and exhibit our dedication to reaching our worldwide progress technique, with Latin America as a core space in our worldwide portfolio.
“We sit up for collaborating additional with Total, our different companions in these blocks, and the federal government of Mexico”.
The three offshore blocks are located inside 30 to 90 kilometres of the enormous Cantarell and KMZ oil fields.
The whole space lined by the blocks is roughly 2,300 sq. kilometres, with water depths starting from about 10 meters to 1,100 meters.
Qatar Petroleum already has stakes in Mexican blocks, most notably the 35 per cent collaborating curiosity in three offshore oil fields in Eni’s Area 1.
Also, the corporate holds exploration rights in 5 offshore blocks in Mexico’s Perdido and Campeche basins as a part of a separate consortium with Shell and Eni.
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