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Qatar Petroleum acquires stakes in exploration blocks in Mexico

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Oilfield Technology,

Qatar Petroleum has entered into three farm-in agreements to acquire about 30% of Total’s participating interest in blocks 15, 33 and 34 located in the Campeche Basin, offshore Mexico.

Each of the farm-in agreements is subject to customary regulatory and other approvals by Total’s existing partners and the government of Mexico.

Commenting on this occasion, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum said: “We are pleased to sign these agreements, which further expand Qatar Petroleum’s footprint in Mexico, and demonstrate our commitment to achieving our international growth strategy, with Latin America as a core area in our international portfolio.”

Al-Kaabi also added: “We look forward to collaborating further with Total, our other partners in these blocks, and the government of Mexico. I would like to take this opportunity to thank the Mexican authorities and our partners for their continued support.”

The three offshore blocks are situated in the Campeche basin and within 30 to 90 km of the giant Cantarell and KMZ oilfields. The total area covered by the blocks is approximately 2300 km2, with water depths ranging from about 10 m to 1100 m.

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