QP Goes Big Off Mexico

Qatar Petroleum (QP) has taken the next step in transforming its international presence, bagging five blocks in Mexico’s highly successful offshore offering this week. QP secured deepwater Brazil acreage in October with CEO Saad al-Kaabi telling MEES it is eyeing assets elsewhere in Latin America as part of a “very defined” expansion strategy ( MEES, 8 December 2017 ).

Four of QP’s new Mexican assets are in a consortium with Anglo-Dutch major Shell (60% op, QP 40%), Blocks 3, 4, 6, and 7 in the Perdido Basin. This abuts the US border in proximity to the Whale deep-water discovery announced by Shell on 31 January: one of its “largest US Gulf of Mexico exploration finds in the past decade.” Whale is located in the Alaminos Canyon Block 772 (Shell 60%op, Chevron 40%).


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