Qatar Petroleum has reached an agreement with Eni SPA to farm in to Block A5A in the Angoche basin offshore Mozambique.
Saad Sherida Al-Kaabi, minister of state for energy affairs and QP president and chief executive officer, said the deal is part of a strategy to expand the company’s exploration portfolio “to ensure diversification of geographies as well as geologies and basins.”
Block A5A, which covers 5,133 sq km in 300-1,800 m of water, is adjacent to Block A5B where a QP affiliate in December 2018 acquired 10% participating interest from an ExxonMobil Corp. affiliate, marking its first foray into Mozambique.
After the deal closes, QP will hold 25.5% participating interest in Block A5A with partners operator Eni 34%, Empresa Nacional de Hidrocarbonetos 15%, and Sasol 25.5%.
