Qatar Petroleum to buy stake in ExxonMobil Mozambique blocks

FE Team | Published: December 09, 2018 23:39:15

CAIRO, Dec 09 (Reuters): Qatar Petroleum said on Saturday it had agreed to buy a 10 per cent participating interest in three of ExxonMobil's offshore exploration blocks in Mozambique's Angoche and Zambezi basins.
It will be part of a consortium made up of affiliates of ExxonMobil with a 50 per cent stake, Empresa Nacional de Hidrocarbonetos with 20 per cent, Rosneft with 20 per cent interest, and Qatar Petroleum with 10 per cent.
Qatar and the United States plan to strengthen "energy partnerships," the emirate's minister of state for energy affairs, Saad Al-Kaabi, said in a statement after a meeting in Doha with his US counterpart Rick Perry.
"This is a milestone for Qatar Petroleum as it marks its first foray into Mozambique's promising offshore basins," Qatar Petroleum said in a statement on its website.
The deal is subject to regulatory approval by Mozambique.