Qatar Petroleum Acquisition of Part of Total Campeche Basin

Qatar Petroleum has signed three acquisition agreements with Total to acquire nearly 30 per cent of the French oil and gas giant's prospecting area in Mexico's Campeche Basin ,15,33 and 34, foreign media reported on May 7.

 The three offshore exploration blocks are located within 30-90 km of the huge Cantarell and KMZ oil fields, with a total area of about 2300 km2.

The water depth of the Mexican exploration block in the Campeche basin is approximately between 10 and 1100 metres.

"We are pleased to sign these agreements and further expand Qatar Petroleum's footprint in Mexico, which demonstrates our commitment to achieving our international development strategy, with Latin America as the core area of the international portfolio ," said Saad Sherida Kabi (SaadSheridaAl-Kaabi), chief executive officer of Qatar Petroleum. We look forward to further cooperation with Total, other partners and the Government of Mexico and would like to take this opportunity to thank the Mexican authorities and partners for their continued support to us ."

 According to Qatar National Petroleum, all three acquisition agreements related to the Campeche basin block must be subject to regular regulation and approval by existing partners in Total and the Government of Mexico.

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