Doha - Mubasher: Qatar Petroleum said it has reached an agreement with Chevron Morocco Exploration to acquire a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in the Kingdom of Morocco.
Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the deep-water leases, while Chevron will retain a 45% interest and remains the operator and Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest.
The three offshore areas are Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep.
Meanwhile, the three offshore lease areas are located between 100-200 kilometers west and northwest of the Morocco city of Agadir. They encompass approximately 29,200 sq. kms with average water depths ranging from 100 meters to 4,500 meters.
