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Qatar Petroleum Farms into Three Total Blocks Offshore Mexico

Source: 5/6/2020, Location: South America

Qatar Petroleum has entered into three farm-in agreements to acquire about 30% of Totalís participating interest in Blocks 15, 33 and 34 located in the Campeche basin, offshore Mexico.

Each of the farm-in agreements is subject to customary regulatory and other approvals by Totalís existing partners and the government of Mexico.

Commenting on this occasion, His Excellency Mr. 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 Petroleumís footprint in Mexico, and demonstrate our commitment to achieving our international growth strategy, with Latin America as a core area in our international portfolio.'

H.E. Minister Al-Kaabi also added, 'We look forward to collaborating further with Total, our other partners in these blocks, and the government of Mexico. I would like to take this opportunity to thank the Mexican authorities and our partners for their continued support.'

The three offshore blocks are situated in the Campeche basin and within 30 to 90 kms of the giant Cantarell and KMZ oil fields. The total area covered by the blocks is approx. 2,300 sq kms, with water depths ranging from about 10 meters to 1,100 meters.

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