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Qatar Petroleum takes stake in Mozambique exploration block
(To add details)
BEIRUT, March 11 (Reuters) - Qatar Petroleum said on Monday
it had struck a deal with Italy's ENI to acquire a 25.5
percent participating interest in block A5A in the Angoche
basin, offshore Mozambique.
The agreement between state-owned Qatar Petroleum and ENI,
which operates the block, is subject to regulatory approvals by
the Mozambique government, Qatar Petroleum said in a statement.
Following the approvals, Eni will hold a 34 percent
participating interest in the block, while Sasol and
Qatar Petroleum will hold 25.5 percent each and Empresa Nacional
de Hidrocarbonetos (ENH) will hold 15 percent.
"Having a large and diversified exploration portfolio is a
key long-term objective for Qatar Petroleum and essential for
success, Saad Al-Kaabi, Qatar's minister of state for energy
affairs and President and CEO of Qatar Petroleum said in the
Qatar, a tiny but wealthy country, is one of the most
influential players in the liquefied natural gas (LNG) market
due to its annual production of 77 million tonnes. It plans to
boost capacity 43 percent by 2023-2024 and will be building four
liquefaction trains for this increase.
(Reporting by Dahlia Nehme; Editing by Susan Fenton and Mark
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