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Qatar Petroleum acquires 30% of Tarfaya permit

A newcomer joins the Tarfaya exploration permit. This is Qatar Petroleum which has just acquired 30% of this license through the Italian Eni.

This exploration permit includes a series of 12 neighboring blocks located in the Atlantic Ocean, off Tarfaya, Tan-Tan and Sidi Ifni. It was awarded in December 2017 to Eni through its Moroccan subsidiary Eni Morocco.

The Italian company then held 75% of the license against 25% for the National Office of hydrocarbons and mines (ONHYM). Through the entrance of Qatar Petrleum, Eni will reduce its shares to 45% after the finalization of the transaction with the Qatari company.

The shallow exploration license of Tarfaya covers an area of 23,900 km². It contains water with depths ranging from zero to 1,000 m. The first phase of exploration on this permit is expected to be completed in 2020.

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