Qatar Petroleum has agreed to acquire 10percent interests in three exploration blocks offshore Mozambique, according to Offshore reports.
Subject to regulatory approvals, the company will join operator ExxonMobil, Rosneft, and Mozambique state oil company ENH in the A5-B block.
The block is in the Angoche basin in water depths of 1,800 to 2,500 m (5,905 to 8,202 ft), and Z5-C and Z5-D in the Zambezi basin, where water depths range from 200-2,000 m (656-6,562 ft).
Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum, said the company’s decision was in line with its strategy of entering prospective frontier basins “with significant hydrocarbon resource potential.”