Qatar acquires stake in Exxon’s Argentina shale oil and gas
The state-owned Qatar Petroleum has signed an agreement to acquire a 30 percent stake in two Exxon Mobil affiliates in Argentina.
The agreement gives the Qatari oil and gas company shares in ExxonMobil Exploration Argentina SRL and Mobil Argentina SA for exploration, drilling and production of unconventional shale oil and gas in Vaca Muerta in the Neuquén province in western Argentina.
Qatar Petroleum says the agreement which was signed on the 3rd June with Exxon Mobil in the capital, Doha, marks the first time the company invests in Argentina. The company did not disclose the value of the deal.
Qatar Petroleum is the world’s largest producer of liquefied natural gas. The small, but wealthy Arab state shares the world’s biggest gas field, located in the Persian Gulf, with Iran.
Source: PennEnergy