Eni and Qatar Petroleum have signed a farm-out agreement, enabling Qatar Petroleum to acquire a 30 per cent participating interest in Tarfaya Offshore Shallow Petroleum agreement, which comprises 12 exploration blocks in the offshore of Morocco
The agreement is subject to the authorisation by the Moroccan authorities.
The Tarfaya Area is located in the southern part of the Moroccan offshore shallow waters in water depth up to 1,000 metres and covers a total area of approximately 23,900 sq km.
Eni, through its subsidiary Eni Maroc, and Office National des Hydrocarbures et des Mines (ONHYM), hold a participating interest of 75 per cent and 25 per cent respectively with Eni acting as operator.
The parties are performing geological and geophysical studies as part of the first exploration period work programme under the Tarfaya Petroleum agreement.
Following the transaction, the partnership will be Eni (45 per cent), QP (30 per cent) and Office National des Hydrocarbures et des Mines (25 per cent).
In line with Eni’s partnership with Qatar Petroleum, the companies signed an agreement that enabled Qatar Petroleum to acquire a 25.5 per cent participating interest in Block A5-A, offshore Mozambique.
