QatarEnergy, ExxonMobil Place Successful Bid for Deepwater Block in Canada

Qatari national oil and gas company QatarEnergy said Thursday that it had, with its partner ExxonMobil, placed a successful bid for Parcel 8 of the Orphan Basin, offshore the province of Newfoundland and Labrador in Canada.

The Parcel 8 winning bid by QatarEnergy (30% working interest) and ExxonMobil (operator, with a 70% working interest) was announced by the Canada-Newfoundland and Labrador Offshore Petroleum Board “C-NLOPB” as part of the 2022 Newfoundland and Labrador Call For Bids NL22-CFB01.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President & CEO of QatarEnergy, said: “We are pleased to be the successful bidder in Parcel 8 offshore Canada, and look forward to maturing the lead prospect’s potential, testing an exciting play within a transparent and stable regulatory environment.”

Al-Kaabi added: "This successful bid demonstrates our ambition to further increase our footprint in the Atlantic basin, as part of our international growth drive. I would like to take this opportunity to thank the C-NLOPB for an efficient tender process, as well as our strategic partner, ExxonMobil, for their excellent cooperation in achieving this result.”

Located offshore Eastern Canada, Parcel 8 lies in water depths of 2,500 to 3,000 meters and covers an area of approximately 2,700 square kilometers. Entry to the Parcel 8 license is subject to customary government approvals.

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