Qatar Petroleum obtains a license to explore for oil off the...

  • Published date: 2021-10-24 – 02:53 pm
Qatar Petroleum obtains a license to explore for oil off the coast of Canada

Juhayna News –
Today, Sunday, Qatar Energy signed an agreement with ExxonMobil Canada to acquire a share of an offshore exploration license off the shores of Newfoundland and Labrador in Canada.

Qatar Petroleum said in a statement that the agreement had obtained all necessary approvals from the Canada Newfoundland and Labrador Offshore Petroleum Council.

Under the agreement, Qatar Energy will own a 40 percent participating interest in the exploration license, in which drilling activities will begin for the “Hampden” exploration well, while ExxonMobil Canada will retain the remaining stake.

The Minister of State for Energy Affairs in Qatar, and CEO of Qatar Energy, Engineer Saad Sherida Al-Kaabi, said that this agreement represents Qatar’s first participation in the offshore exploration areas in Canada, and in an important and productive oil basin, stressing that this agreement is based on Qatar Petroleum’s strong partnership with Exxon. Mobil and is an important addition to the company’s growing international exploration and exploration portfolio.

The marine area under the agreement is located 450 km east of Saint John in the province of Newfoundland and Labrador, where the water depth is approximately 1,100 metres.

— (Petra)

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