QatarEnergy also known as Qatar Petroleum has signed an agreement with ExxonMobil Canada to take part in oil exploration Hampden, a town in the Canadian province of Newfoundland and Labrador, Zawya reports.
The state-run company will control 40 per cent of the exploration deal.
“We are pleased to conclude this agreement which represents our first entry into offshore Canada, in an established producing basin with the leading producer in the area,” said Saad Sherida Al-Kaabi, Qatar Minister of State for Energy Affairs and president and CEO of QatarEnergy.
The transaction, Zawya notes, has already received all necessary approvals from the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).
“I would like to take this opportunity to thank the C-NLOPB for supporting the transaction, and to thank ExxonMobil, our strategic partner, for their cooperation and efforts to conclude this agreement,” said Al-Kaabi. The deal is the first in the North American region the company which is one of the world’s top liquefied natural gas (LNG) suppliers.
The exploration side, approximately 1,100 meters deep, is located 450 kilometers east of the province’s capital city of St. John’s.
QatarEnergy wins exploration contract in Canada
