Qatari National Oil Company, QatarEnergy has penned an agreement with oil and gas multinational company, Shell, to acquire a 40% working interest in Block C-10, offshore Mauritania.
According to the terms of the agreement and subject to customary approvals by the Government of Mauritania, the Block’s operator, Shell, will hold a 50% interest, while Mauritanian National Oil Company, known as Société Mauritanienne des Hydrocarbures (SMH), will hold the remaining 10% interest.
"We are excited about the opportunity to participate in Mauritania’s upstream sector which further builds on our exploration footprint in Africa, and we look forward to a successful exploration program," stated QatarEnergy Chief Executive Officer, Saad Sherida Al-Kaabi.
He further expressed "We are delighted to have the opportunity to work with our strategic partner, Shell and with SMH. We also look forward to collaborating with the Mauritanian government and thank them and our partners for their valuable support and cooperation."
Positioned approximately 50km off Mauritania’s coast, Block C-10 covers an area of approximately 11,500km2, with water depths ranging from 50m to 2,000m. The Block is harbouring the Walata, Banda, and Tevet oil discoveries.
In February 2023, Shell was granted a six-month extension to its C-10 license, which will allow the it drill the wildcat well, while targeting oil potential within the contiguous Block C-2 there in Mauritania.
