QatarEnergy in deal with ExxonMobil Canada to farm into an exploration license offshore the province of Newfoundland and Labrador in Canada.
QatarEnergy signed an agreement with ExxonMobil Canada to farm into an exploration licence offshore the province of Newfoundland and Labrador in Canada.
The transaction has received all necessary consents from the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).
According to the agreement, QatarEnergy will hold a 40% participating interest in license EL 1165A, where the Hampden exploration well activities are planned. The remaining interest is held by ExxonMobil Canada.
On the occasion, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, also the President and CEO of QatarEnergy, said, “We are pleased to conclude this agreement which represents our first entry into Offshore Canada, in an established producing basin with the leading producer in the area. This builds on our strong partnership with ExxonMobil and is an important addition to our growing international exploration portfolio.”
Al-Kaabi added, "I would like to take this opportunity to thank the C-NLOPB for supporting the transaction, and to thank ExxonMobil, our strategic partner, for their co-operation and efforts to conclude this agreement.”
The block covered by this licence is located approximately 450km east of the city of St John’s in Newfoundland and Labrador, in water depths of approximately 1,100 metres.
The transaction has received all necessary consents from the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).
According to the agreement, QatarEnergy will hold a 40% participating interest in license EL 1165A, where the Hampden exploration well activities are planned. The remaining interest is held by ExxonMobil Canada.
On the occasion, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, also the President and CEO of QatarEnergy, said, “We are pleased to conclude this agreement which represents our first entry into Offshore Canada, in an established producing basin with the leading producer in the area. This builds on our strong partnership with ExxonMobil and is an important addition to our growing international exploration portfolio.”
Al-Kaabi added, "I would like to take this opportunity to thank the C-NLOPB for supporting the transaction, and to thank ExxonMobil, our strategic partner, for their co-operation and efforts to conclude this agreement.”
The block covered by this licence is located approximately 450km east of the city of St John’s in Newfoundland and Labrador, in water depths of approximately 1,100 metres.
