Qatar Petroleum Acquires Stakes in Morocco’s Offshore Blocks

Qatar Petroleum Acquires Stakes in Morocco’s Offshore Blocks

Qatar Petroleum Company agreed with Italian giant Eni to acquire stakes in Morocco’s offshore blocks, Reuters reported.

Under the agreement, Qatar Petroleum will hold 30% interest in the Tarfaya Shallow Exploration Permit, which is a series of 12 neighboring offshore blocks in Morocco. Meanwhile, Eni will own 45% interest and the remaining 25% will be for Morocco’s Office National des Hydrocarbures et des Mines (ONHYM).

The agreement is subject to regulatory approvals from Morocco.

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