Qatar Petroleum set to enter exploration offshore Morocco

Eni has agreed to farm out a 30% interest in the Tarfaya Offshore Shallow Petroleum Agreement to Qatar Petroleum, subject to approval by the Moroccan authorities.

The 23,900-square kilometre (9,228-square mile) Tarfaya Area, covering 12 exploration blocks, is in waters up to 1,000 metres (3,281 feet) deep off the country’s southern coast.

Eni Maroc operates in partnership with state-owned Office National des Hydrocarbures et des Mines (ONHYM).

Currently the focus is on geological and geophysical studies to fulfil commitments for the first exploration period work programme.

Assuming clearance for the transaction, Eni will have a 45% interest, Qatar Petroleum 30%, and ONHYM 25%.

Eni and Qatar Petroleum are also partners in exploration acreage offshore Mozambique, Oman, and Mexico.

Source: Offshore Magazine