QatarEnergy, previously Qatar Petroleum, has inked a deal with ExxonMobil Canada to farm into an exploration license offshore the province of Newfoundland and Labrador in Canada.
The deal, which marks the Qatar state-owned oil and gas firm’s first entry into offshore exploration in Canada, will see QatarEnergy hold a 40% participating interest in license EL 1165A, where the Hampden exploration well activities are planned. The remaining interest is held by ExxonMobil Canada.
The block covered by this license is located approximately 450 km east of the city of St. John’s in Newfoundland and Labrador, in water depths of approximately 1,100 m.
The transaction has received all necessary consents from the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).