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Volume
44
Issue
7
11
Qatar Petroleum has
signed an agreement
with ExxonMobil to
become a 30% equity
holder in twoExxonMobil
affiliates in Argentina,
which hold different
interests in hydrocarbon
licenses for seven blocks
in Vaca Muerta play in
the onshore Neuquén
basin.
The agreements were
signed by Saad Sherida
Al Kaabi, president &
CEO of Qatar Petroleum,
and Andrew P. Swiger, Senior VP of ExxonMobil
Corp., at a special ceremony held in Doha
recently, in the presence of senior executives
from both companies.
As per the signed agreements, Qatar
Petroleum will have a 30% share in two
ExxonMobil local affiliates in Argentina,
namely, ExxonMobil Exploration Argentina
S.R.L. and Mobil Argentina S.A., which hold
rights with other partners for seven blocks
under exploration licenses with active drilling
plans, as well as exploitation licenses with pilot
drilling and production.
QATAR PETROLEUM ACQUIRES 30% EQUITY
IN 2 EXXONMOBIL AFFILIATES
SONATRACH SIGNS $324 MILLION DEAL WITH TOTAL & REPSOL
Algeria’s Sonatrach signed an exploration and development contract
for its Tin Foye Tabankort gas field with France’s Total and Spain’s Repsol
over a period of 24 years. Sonatrach owns 51% of the field, Total 26.4%
and Repsol 22.6%. The project will invest $324 million in operations
including the drilling of 11 new wells.
The step aims at maintaining the current field output of 80000 BOE/D,
representing 3 billion cubic metres of gas per year for the next six years.
They will also develop additional reserves at the field estimated at more
than 250 million BOE. It is worth mentioning that $1.2 billion have been
allocated as investments to develop the field.