QatarEnergy Signs Agreement in Principle for Two Offshore Blocks in Angola

QatarEnergy, alongside its partners Shell and Sonangol Exploration and Production, has signed an agreement in principle with the National Agency of Petroleum, Gas and Biofuels of Angola concerning exploration contracts for offshore Blocks 8 and 22.

Subject to the necessary government approvals in Angola and the completion of final contractual arrangements, QatarEnergy will hold a 30% participating interest in the two blocks. Shell, which will serve as operator, will hold a 50% interest, while Sonangol will hold the remaining 20%.

HE Eng. Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of QatarEnergy, said the agreement and QatarEnergy's participation in Angola's energy sector form part of the company's international oil and gas exploration and production strategy and its efforts to expand and grow.

He thanked the Angolan authorities as well as Shell and Sonangol for their cooperation and support, and said QatarEnergy looks forward to a productive, long-term partnership.

The agreement in principle was signed in the Angolan capital, Luanda, on the sidelines of the Angola Oil & Gas Conference.

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