QatarEnergy said that company has signed an agreement with Shell in acquisition of a 40% working interest in the C-10 block located offshore Mauritania. Pursuant to the terms of the agreement, and subject to customary approvals by the government of Mauritania, QatarEnergy will hold a 40% working interest in the Exploration and Production Agreement pertaining to the C-10 block. Shell (the operator) will hold a 50% interest, while Société Mauritanienne des Hydrocarbures, (“SMH”) will hold a 10% interest.

“We’re excited about the opportunity to participate in Mauritania’s upstream sector which further builds on our exploration footprint in Africa, and we look forward to a successful exploration program,” His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said.

 “We are delighted to have the opportunity to work with our strategic partner Shell and with SMH. We also look forward to collaborating with the Mauritanian government and thank them and our partners for their valuable support and cooperation,” Minister Al-Kaabi added.

The C-10 block covers a total area of approximately 11,500 square kilometers and is located approximately 50 kilometers off the coast of Mauritania in water depths of approximately 50 to 2,000 meters.