QatarEnergy joins Canadian exploration works
ST. JOHN'S, October 25, 2021 – QatarEnergy has signed a deal with ExxonMobil for 40% interest in an offshore exploration licence in Newfoundland and Labrador in Canada, the Qatar state-owned E&P company said on Sunday.
ExxonMobil will retain the remaining shares.
Deepwater exploration on the EL 1165A licence is set to begin in May or August 2022 on the Hampden well. The site sits 450 kilometres from the coast in water depths of 1,175 metres.
This is the first time QatarEnergy has entered the offshore Canadian market.
The cost of the transaction was not disclosed.