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Qatar Petroleum to buy stake in ExxonMobil Mozambique blocks :: Kenya

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Qatar Petroleum said is set to buy a 10 percent participating interest in three of ExxonMobil’s offshore exploration blocks. [Photo: Courtesy]

CAIRO- Qatar Petroleum said on Saturday it had agreed to buy a 10 percent participating interest in three of ExxonMobil’s offshore exploration blocks in Mozambique’s Angoche and Zambezi basins.

It will be part of a consortium made up of affiliates of ExxonMobil with a 50 percent stake, Empresa Nacional de Hidrocarbonetos with 20 percent, Rosneft with 20 percent interest, and Qatar Petroleum with 10 percent.

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Qatar and the United States plan to strengthen “energy partnerships,” the emirate’s minister of state for energy affairs, Saad Al-Kaabi, said in a statement after a meeting in Doha with his U.S. counterpart Rick Perry.

“This is a milestone for Qatar Petroleum as it marks its first foray into Mozambique’s promising offshore basins,” Qatar Petroleum said in a statement on its website.

The deal is subject to regulatory approval by Mozambique.

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