Qatar Petroleum, Total Ink Mexico Farm-In Deal



Qatar Petroleum, Total Ink Mexico Farm-In Deal
Qatar will acquire 30 percent of Total's participating interest in select blocks in the Campeche basin.

Qatar Petroleum recently entered three offshore Mexico farm-in agreements to acquire 30% of Total’s participating interest in blocks 15, 33 and 34 in the Campeche basin. The financial details of the agreements were not disclosed.

The three offshore blocks are within 30 to 90 kilometers of the giant Cantarell and KMZ oil fields. The total area covered by the blocks is approximately 2,300 square kilometers, with water depths ranging from about 10 to 1,100 meters.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum said, “We are pleased to sign these agreements, which further expand Qatar Petroleum’s footprint in Mexico, and demonstrate our commitment to achieving our international growth strategy, with Latin America as a core area in our international portfolio.”

“We look forward to collaborating further with Total, our other partners in these blocks, and the government of Mexico.”

To contact the author, email bertie.taylor@rigzone.com.



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