Qatar Petroleum to Join ENI Offshore Morocco

Qatar Petroleum (QP) has entered into another deal with ENI, this time to gain access to an exploration permit operated by ENI offshore Morocco.

QP is expected to soon enter the Tarfaya Offshore Shallow I-XII exploration permit.

ENI, who controls a 75% stake in the license, has signed a lease-out agreement with QP to sell 30% of it.

The Tarfaya Offshore permit includes 12 exploration blocks off Morocco.

This agreement is subject to approval by the Moroccan authorities.

In the event of validation, ENI will retain its operator status and hold a 45% stake.

QP will hold 30% and state-run ONHYM will hold a 25% stake.

ENI is currently conducting geological and geophysical studies as part of the first exploration period.

Just recently it was announced that QP would be acquiring a stake in ENI’s Block A5A offshore Mozambique.