Home / Finance & Economy / Qatar Petroleum acquires 30% of Tarfaya permit

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.

Check Also

The Israeli company NewMed Energy will look for gas in southern Morocco

The Israeli company NewMed Energy announced the signing of a memorandum of understanding for the …

Leave a Reply