In Canada, QatarEnergy signed two exploration licenses off the coast of the province of Newfoundland and Labrador with ExxonMobil Canada. Licenses EL 1167 and EL 1162 cover a total area of approximately 3,820 km².
Strategic partnership between QatarEnergy and ExxonMobil Canada for two exploration licenses in Canada
QatarEnergy holds a 28% interest in License EL 1167, which plans to explore the Gale exploration well and related activities. ExxonMobil Canada is the operator and owns 50%, while Cenovus Energy owns 22%. QatarEnergy also has a 40% interest in license EL 1162, in which ExxonMobil Canada is also the operator and holds the remaining 60%.
A ready-made agreement with the C-NLOPB
The transaction has completed all necessary formalities with the Newfoundland and Labrador Extracoastal Resources Council (C-NLOPB).
Statement by Saad Sherida Al-Kaabi, CEO of QatarEnergy
Commenting on the occasion, Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of QatarEnergy, said: “We are delighted to sign this agreement with our strategic partner ExxonMobil to expand our Canadian Atlantic offshore portfolio as part of our international further expand growth dynamics. We look forward to continuing to operate in a transparent and stable regulatory environment in Canada.” Mr. Al-Kaabi also thanked the Newfoundland and Labrador Council for Extracoastal Resources for their support and expressed his confidence that the exploration campaign would be successful.
Offshore exploration licenses off Eastern Canada for QatarEnergy
The licenses EL 1167 and EL 1162 are located off the east coast of Canada in a water depth of 100 to 1200 meters. License EL 1167 covers an area of approximately 1,420 km², while license EL 1162 covers an area of approximately 2,400 km².
In summary, QatarEnergy has entered into a partnership agreement with ExxonMobil Canada to explore two offshore exploration licenses off the coast of Newfoundland and Labrador, Canada. The two licenses cover a total area of approximately 3,820 km² and QatarEnergy has a 28% interest in one and 40% in the other.
