QatarEnergy has agreed to acquire a 40% stake in the C-10 block located offshore Mauritania from Shell for an undisclosed sum.

Under the terms of the agreement, QatarEnergy will hold a 40% interest in the Exploration and Production Agreement pertaining to the C-10 block.

Shell will operate the C-10 block with a 50% stake while Société Mauritanienne des Hydrocarbures (SMH) will hold the remaining 10% interest.

The transaction is subject to customary approvals by the government of Mauritania.

QatarEnergy president and CEO and Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi said: “We’re excited about the opportunity to participate in Mauritania’s upstream sector which further builds on our exploration footprint in Africa, and we look forward to a successful exploration programme.

“We are delighted to have the opportunity to work with our strategic partner Shell and with SMH. We also look forward to collaborating with the Mauritanian government and thank them and our partners for their valuable support and cooperation.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Covering a total area of approximately 11,500km2, the C-10 block is located about 50km off the coast of Mauritania in water depths of around 50 metres to 2,000m.

Recently, QatarEnergy signed a deal to acquire stakes in two exploration blocks offshore the province of Newfoundland and Labrador in Canada from ExxonMobil Canada, for an undisclosed amount.

Qatar’s state-owned energy company will acquire stakes in licences EL 1167 and EL 1162.