QP to buy equity in ExxonMobil affiliates in Argentina
June 4, 2018
Qatar Petroleum has entered into an agreement with ExxonMobil Corp. to become a 30% equity holder in two ExxonMobil affiliates in Argentina that hold different interests in hydrocarbon licenses for seven blocks in the world-class Vaca Muerta play in Argentina’s onshore Neuquen basin.
Qatar Petroleum has entered into an agreement with ExxonMobil Corp. to become a 30% equity holder in two ExxonMobil affiliates in Argentina that hold different interests in hydrocarbon licenses for seven blocks in the world-class Vaca Muerta play in Argentina’s onshore Neuquen basin.
The agreements will give QP shareholding in the two affiliates, ExxonMobil Exploration Argentina SRL and Mobil Argentina SA. Both hold rights with other partners for seven blocks under unconventional exploration licenses with active drilling plans and exploitation licenses with pilot drilling and production.
“This is an important milestone, as it marks Qatar Petroleum’s first investment in Argentina as well as its first significant international investment in unconventional oil and gas resources,” said Saad Sherida Al-Kaabi, QP president and chief executive officer.
