QatarEnergy joins ExxonMobil in two Atlantic Canada licenses

Offshore staff

DOHA, Qatar — QatarEnergy has entered a farm-in agreement with ExxonMobil Canada for two exploration licenses offshore Newfoundland and Labrador, eastern Canada.

The transaction, which has completed all necessary formalities with the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), gives a 28% interest in EL 1167, where planning is underway for the Gale exploration well and associated activities.

ExxonMobil Canada remains operator with a 50% interest, while Calgary-based Cenovus Energy holds 22%.

QatarEnergy also now has a 40% position in EL 1162, and ExxonMobil Canada (operator) has the remaining 60%.

EL 1167 and EL 1162, both in water depths ranging from 100 m to 1,200 m, cover respective areas of about 1,420 sq km and 2,400 sq km.

03.30.2023