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.
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.
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.