Qatar Petroleum has signed an agreement to acquire a 25.5% participating interest in Block A5-A offshore Mozambique from Eni.
Block A5A covers a total area of around 5,133km² in water depths ranging between 300m and 1,800m. The block lies in the Angoche basin and is located adjacent to Block A5B.
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In December 2018, Qatar Petroleum’s affiliate signed an agreement with an ExxonMobil affiliate to acquire a 10% participating interest in Block A5B.
Eni secured Block A5-A in the deep waters of the Northern Zambezi Basin following the fifth competitive Licensing Round launched by the Republic of Mozambique.
Eni operates Block A5-A Consortium with a participating interest of 59.5% through its subsidiary Eni Mozambico.
Once the approvals are in place Eni will own a 34% participating interest in the block, while Sasol and Qatar Petroleum will hold 25.5% each and Empresa Nacional de Hidrocarbonetos will hold 15%.
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By GlobalDataQatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “By entering into this new agreement, we aim at expanding our exploration portfolio to ensure diversification of geographies as well as geologies and basins.
“Having a large and diversified exploration portfolio is a key long-term objective for Qatar Petroleum and essential for success.”
The agreement is subject to approval by the Mozambican authorities.
