Qatar Petroleum Company agreed with Italian giant Eni to acquire stakes in Morocco’s offshore blocks, Reuters reported.
Under the agreement, Qatar Petroleum will hold 30% interest in the Tarfaya Shallow Exploration Permit, which is a series of 12 neighboring offshore blocks in Morocco. Meanwhile, Eni will own 45% interest and the remaining 25% will be for Morocco’s Office National des Hydrocarbures et des Mines (ONHYM).
The agreement is subject to regulatory approvals from Morocco.
