Qatar Petroleum has reached an agreement with Chevron Morocco Exploration, a subsidiary of Chevron Corp., to acquire a 30% participating interest from Chevron’s 75% share in three deepwater offshore leases in the Kingdom of Morocco: Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep.
Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the leases, while Chevron will retain a 45% interest and remains the operator. Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest.
The three offshore lease areas are located between 100-200km west and northwest of the Morocco city of Agadir. They encompass approximately 29,200sq km with average water depths ranging from 100-4500m.
Image from Qatar Petroleum.
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