Qatar Energy has signed an agreement with Shell to acquire a 40% stake in the C10 offshore exploration block off the coast of Mauritania. Under the agreement, which will be subject to the usual formal approvals by the Mauritanian government, Qatar Energy will own a 40% interest in the Exploration and Production Agreement for Block C10, while Shell (the operator) will own a 50% interest, and the Mauritanian Hydrocarbons Company will own 10%, according to Qatar Energy.
Commenting on this occasion, His Excellency Eng. Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, said: "We are pleased with this opportunity to contribute to the exploration, exploration and production sector in Mauritania, which will enhance our exploration presence in the African continent, and we look forward to a successful exploration program."
His Excellency Minister Al-Kaabi added: "We are pleased to cooperate in this opportunity with our strategic partner, Shell Company, and with the Mauritanian Hydrocarbon Company, and we look forward to cooperating with the Government of the Islamic Republic of Mauritania, to whom I thank them and our partners for their valuable support and cooperation."
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.
