Qatar Energy has signed an agreement with Shell to acquire a 40% stake in the C10 marine exploration block off the coast of Mauritania.
Under the agreement, which will be subject to regular formal approvals by the Mauritanian government, Qatar Energy will own a 40 percent stake in the C10 exploration and production agreement, while Shell (the operator) will own a 50 percent stake and the Mauritanian Hydrocarbon Company 10 percent.
Eng. Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, said: "We are delighted with this opportunity to contribute to Mauritania's exploration sector, which will strengthen our exploration presence on the African continent, and we look forward to a successful exploration program."
Qatar Energy enters offshore exploration sector off Mauritania#QatarEnergy #قطر pic.twitter.com/cAJ5Kp4c98
— QatarEnergy (@qatarenergy) April 2, 2023
"We are pleased to cooperate on this opportunity with our strategic partner Shell and the Mauritanian Hydrocarbon Company, and we look forward to cooperating with the government of the Islamic Republic of Mauritania," he added.
Area C10 covers an area of about 11,500 square kilometers and is about 50 kilometers from the coast of Mauritania in waters ranging in depths between 50 meters and <>,<> meters.