QatarEnergy (QE) has struck a deal to take a 40% stake in a Shell block offshore Mauritania.
Shell will continue as operator with a 50% stake, while Société Mauritanienne des Hydrocarbures (SMH) will have 10% in the C10 block.
“We’re excited about the opportunity to participate in Mauritania’s upstream sector which further builds on our exploration footprint in Africa, and we look forward to a successful exploration programme,” said QE president and CEO Saad Sherida Al-Kaabi.
Shell has set out plans of drilling in the Mauritanian block as early as this year, although it may be pushed back to 2024.
The QE acquisition is subject to approval from the government.
“We are delighted to have the opportunity to work with our strategic partner Shell and with SMH. We also look forward to collaborating with the Mauritanian government and thank them and our partners for their valuable support and cooperation,” said Al-Kaabi.
The C10 block covers around 11,500 square km and is around 50 km offshore Mauritania. Water depths run from 50 to 2,000 metres.
QE struck a deal with ExxonMobil Canada on March 29 to access to more exploration. The Qatari company will take a 28% stake in EL 1167, where it plans the Gale exploration well. It will also take a 40% stake in EL 1162.
Al-Kaabi said the plan would grow its offshore Atlantic Canada portfolio. He thanked the Canada- Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). Local regulators expect drilling on the Gale well this year.