News (Nouakchott) Qatar Energy Company (governmental) announced today, Sunday, its acquisition of 40 percent of the C10 offshore exploratory block off the coast of Mauritania.
According to the Anadolu Agency, Qatar Energy said, in a statement, that the acquisition agreement was concluded by signing with the international company “Shell”, which operates the exploration area.
Under the agreement, which will be subject to the usual formal approvals by the Mauritanian government, Qatar Energy will hold a 40 percent stake in the Exploration and Production Agreement for Block C10.
While Shell (the operator) will own a 50 percent stake, and the Mauritanian Hydrocarbons Company will own 10 percent.
The statement quoted Saad bin Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, as saying that the acquisition represents an opportunity to contribute to the exploration, exploration and production sector in Mauritania.
Al-Kaabi added, “The acquisition agreement will enhance Qatar Petroleum’s exploration presence in the African continent,” looking forward to a successful exploration program.
Area C10 covers an area of about 11,500 square kilometres, and lies about 50 kilometers off the coast of Mauritania, in waters ranging from 50 to 2,000 meters in depth.
