QatarEnergy has entered into an agreement with Shell to acquire a 40% working interest in the C-10 block located offshore Mauritania.
Pursuant to the terms of the agreement, and subject to customary approvals by the government of Mauritania, QatarEnergy will hold a 40% working interest in the Exploration and Production Agreement pertaining to the C-10 block. Shell (the operator) will hold a 50% interest, while Société Mauritanienne des Hydrocarbures, (“SMH”) will hold a 10% interest.
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Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and Chief Executive Officer of QatarEnergy, said: “We’re excited about the opportunity to participate in Mauritania’s upstream sector which further builds on our exploration footprint in Africa, and we look forward to a successful exploration program.”
The C-10 block covers a total area of approximately 11,500 square kilometres and is located approximately 50 kilometres off the coast of Mauritania in water depths of approximately 50 to 2,000 metres.
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QatarEnergy has interests in the Guyana basin, through a partnership with TotalEnergies called TOQAP. Total owns 60% of TOQAP and QatarEnergy owns 40%. TOQAP has a 25% stake in the Orinduik block and a 25% stake in the Kanuku block.
