The increases would come partly through further development of the domestic North Field and partly through an expansion internationally, the statement added. In recent weeks, QP purchased a 25% stake in Block 11B/12B offshore South Africa from Total and won stakes in five Mexico offshore blocks following the Latin American country’s deepwater Round 2.4 auction.
“The new strategy and values come at a critical time in our expansion, and will ensure that we continue to be a global LNG leader,” said Saad Sherida Al Kaabi, QP’s CEO and president. “We are developing a global business and are also enhancing our competitive position as a global energy player, leaving our positive mark across the world.”
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