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Qatar Petroleum Wins 5 Exploration Blocks Offshore Mexico

Source: www.gulfoilandgas.com 2/1/2018, Location: South America

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Qatar Petroleum has won exploration rights in 5 offshore blocks in Mexico. The winning bids were announced by the National Hydrocarbon Commission of Mexico (CNH) at the conclusion of a public bidding session in Mexico City, during which CNH also received the competing bids.

Qatar Petroleum won the exploration rights for blocks 3, 4, 6, and 7 in the Perdido basin as part of a consortium comprising Shell (operator with a 60% interest) and Qatar Petroleum (with a 40% interest).

Qatar Petroleum also won the exploration rights for block 24 in the Campeche basin as part of a consortium comprising Eni (operator with a 65% interest) and Qatar Petroleum (with a 35% interest).

Mr. Saad Sherida Al-Kaabi, the President & CEO of Qatar Petroleum welcomed the announcement of the winning bids, which he said was a clear example of the important role Qatar Petroleum plays in the global oil and gas industry. Mr. Al-Kaabi said “Winning these offshore exploration blocks in Mexico, which contain some of the most promising hydrocarbon prospects in the world, is an important achievement for Qatar Petroleum. It represents another step in implementing our strategy to expand our international footprint, and to pursue Latin America as an important core area for Qatar Petroleum."

"I would like to take this opportunity to thank the Mexican authorities for the transparent and efficient process, and our partners Shell and ENI for their excellent collaboration on this opportunity,” Mr. Al-Kaabi concluded.

The exploration blocks were offered as part of the Mexico Deep Water Round 2, Phase 4 bid round, which covered 29 blocks in the Perdido, Campeche and Mexican Ridges areas in the Gulf of Mexico.

The relevant legal agreements, including the concession agreements, are expected to be signed between the Mexican authorities and the various winning entities by May of this year.?

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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