Qatar Petroleum says taking interest in ExxonMobil’s Mozambique blocks

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CAIRO (Reuters) – Qatar Petroleum said on Saturday it has entered an agreement with an ExxonMobil affiliate to acquire a 10 percent participating interest in three offshore exploration blocks in the Angoche and Zambezi basins in Mozambique.

“This is a milestone for Qatar Petroleum as it marks its first foray into Mozambique’s promising offshore basins,” it said in a statement on its website.

The consortium formed to explore the blocks will be made up of affiliates of ExxonMobil <XOM.N> with a 50 percent stake, Empresa Nacional de Hidrocarbonetos with 20 percent, Rosneft with 20 percent interest, and Qatar Petroleum <QATPE.UL> with 10 percent.

The acquisition is subject to regulatory approval by Mozambique.

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