Qatar Petroleum and Chevron reach agreement for deepwater blocks offshore Morocco

Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corp., to acquire a 30% participating interest from Chevron’s 75% share in three deepwater leases offshore Morocco.

​Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the deepwater leases, while Chevron will retain a 45% interest and remain the operator. Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest.

The three offshore areas are Cap Rhir Deep, Cap Cantin Deep, and Cap Walidia Deep. They are located 100–200 kilometers west and northwest of the Moroccan city of Agadir, and encompass approximately 29,200 square kilometers with average water depths ranging from 100 meters to 4,500 meters.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...