QatarEnergy has agreed with Shell to acquire a working interest in the C-10 block located offshore Mauritania.
Upon the completion of the transaction, QatarEnergy will hold a 40% working interest in offshore block, Shell (the operator) will hold a 50% interest, while Société Mauritanienne des Hydrocarbures, (“SMH”) will hold a 10% interest.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “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 program.”
Minister Al-Kaabi added: “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.”
The C-10 block covers a total area of approximately 11,500 square kilometers and is located approximately 50 kilometers off the coast of Mauritania in water depths of approximately 50 to 2,000 meters.