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offshore, exploration, exxonmobil, mozambique

QP enters Mozambique in deal with Exxon

MAPUTO, December 10, 2018 – Qatar Petroleum announced a deal to acquire a 10% participating interest in three of ExxonMobil’s offshore exploration blocks in Mozambique on Saturday.

 

The offshore blocks comprise A5-B, which lies in the Angoche Basin, and Z5-C and Z5-D, which are in the Zambezi Basin.

“This is a milestone for Qatar Petroleum as it marks its first foray into Mozambique’s promising offshore basins,” Saad Sherida Al Kaabi, the minister of state for energy affairs and president and CEO of Qatar Petroleum, said. “We hope that the exploration efforts, which will commence soon, will be successful, and we look forward to collaborating with ExxonMobil, Rosneft and ENH on this opportunity.”

The deal is subject to regulatory approvals by Mozambican authorities.

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