Qatar Petroleum joins Chevron in three Moroccan deepwater leases

Qatar Petroleum has agreed to acquire 30% interest from Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corp., in the Cap Rhir Deep, Cap Cantin Deep, and Cap Walidia Deep leases offshore Morocco.

The three lease areas encompass 29,200 sq km in 100-4,500 m of water, 100-200 km west and northwest of the city of Agadir.

Under the agreement, which was approved by the Moroccan government, Chevron will retain 45% interest and remain operator while Morocco’s Office National Des Hydrocarbures Et Des Mines will continue to hold 25%. Chevron entered the licenses in 2013 (OGJ Online, Jan. 22, 2013).

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