QP Enters Mozambique

Fresh from announcing its decision to withdraw from Opec, Qatar announced on 10 December an agreement to farm into three ExxonMobil operated blocks offshore Mozambique.

In announcing Qatar’s Opec exit, energy minister Saad al-Kaabi and Qatar Petroleum CEO highlighted the firm’s expanding international footprint. QP has secured a swathe of international assets over the past two years under Mr Kaabi’s plans to transform the firm beyond all recognition ( MEES, 8 December 2017 ).

The bulk of QP’s moves have been in the Americas, in particular Brazil and Mexico ( MEES, 5 October ). But the firm isn’t geographically restricted and in April 2017 QP signed up for 40% of Cyprus’ offshore Block 10 alongside ExxonMobil (60% operator). Exploration drilling is currently underway (see map, MEES, 14 December ). (CONTINUED - 361 WORDS)