QatarEnergy signed an agreement with ExxonMobil Canada to farm into an exploration license offshore the province of Newfoundland and Labrador in Canada.
QatarEnergy will hold a 40% participating interest in license EL 1165A, where the Hampden exploration well activities are planned. The remaining interest is held by ExxonMobil Canada. The block covered by the license lies about 450 km east of St. John’s in Newfoundland and Labrador, in water depths of about 1,100 m.
The transaction has received all necessary consents from the Canada- Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).