State-owned firm Qatar Petroleum has secured exploration rights to five blocks off the coast of Mexico.
The exploration blocks were awarded as part of the Mexico Deepwater Round 2, the fourth phase of international bid round, which covered 29 blocks in the Perdido, Campeche and Mexican Ridges areas in the Gulf of Mexico.
Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “Winning these offshore exploration blocks in Mexico, which contain some of the most promising hydrocarbon prospects in the world, is an important achievement for Qatar Petroleum.
“It represents another step in implementing our strategy to expand our international footprint, and to pursue Latin America as an important core area for Qatar Petroleum.”
A consortium involving Qatar Petroleum and Shell has secured the exploration rights for blocks 3, 4, 6, and 7 in the Perdido basin.
Shell will operate the blocks with a 60% interest, while Qatar Petroleum will hold the remaining 40% interest.
The company was also awarded rights for block 24 in the Campeche basin as part of a consortium with Italian exploration and production company Eni.
Eni will assume operatorship of the blocks with a 65% interest, while Qatar Petroleum will own a 35% interest.
Qatar Petroleum expects to sign the concession agreements with the Mexican authorities by May.
