México

Guyana

Trinidad
& Tobago

 




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

 

Qatar buys mexican oil stakes from Eni

wgoqatar

The logo of Qatar Petroleum is seen at its headquarters in Doha.

Play Video: $50 Is a Line in the Sand for Oil Prices, Analyst Cusick Says

- Partners to pump 90,000 barrels a day from fields by 2021
- Qatar left OPEC earlier this month to expand gas business

By Mohammed Sergie and Anthony Dipaola / Bloomberg

DUBAI
Petroleumworld 12 172018

Qatar Petroleum is buying stakes in three offshore oil blocks in Mexico from Eni SpA, as the Arab country signs another global expansion deal after leaving OPEC.

Eni and the government-owned energy company in Qatar, the world's biggest exporter of liquefied natural gas, will produce about 90,000 barrels of oil a day from the Amoca, Mizton and Tecoalli fields in the Gulf of Mexico by the end of 2021, Saad Sherida Al Kaabi, Qatar's energy minister, said in Doha. The fields hold 2 billion barrels of oil equivalent, he said at a press conference with Eni Chief Executive Officer Claudio Descalzi.

Chris Ratcliffe/Bloomberg

Saad Sherida Al Kaabi

The companies are already working together on a separate offshore block in Mexico, according to press releases from both companies. Eni gained approval for the developments earlier this year and needs the Mexican authorities to sign off on Sunday's deal.

Global oil majors that have for years produced in U.S. waters are being attracted to the Mexican side of the Gulf as the government opens new blocks for development. Middle Eastern producers are exploring opportunities for offshore developments in the Americas and Africa as well as looking at prospects for shale oil developments in the U.S. Growing production from outside OPEC is challenging the producers' group.

Qatar Petroleum is now operating in Mexico, Brazil, Argentina, Oman, Congo, South Africa, Cyprus and Mozambique. The Middle Eastern country, which has been facing a blockade led by OPEC members Saudi Arabia and the United Arab Emirates, said this month it was leaving the Organization of Petroleum Exporting Countries to focus on its gas business.

Last week, Qatar Petroleum agreed to acquire a stake in a Mozambique energy project . The company is exploring for oil and gas in Cyprus, Argentina, Morocco and other countries. It plans to pump $20 billion in U.S. fields and will expand its local LNG output by 43 percent to 110 million tons per year in 2025.

Read more about Qatar's energy expansion plans here

Eni has made offshore discoveries from the Americas to Africa and the Mediterranean. The Rome-based company has ceded stakes in natural gas fields in Egypt to BP Plc and Mubadala Investment Co. and is working with Russia's Lukoil PJSC in Mexico.

Chris Ratcliffe/Bloomberg

Claudio Descalzi

Eni, which this year won rights to develop crude and gas deposits in Abu Dhabi, also wants to partner in LNG expansion projects in Qatar, Descalzi said. Qatar isn't worried that Australia became the world's top LNG producer as the Arab country will regain the No. 1 position after completing expansion projects, Al Kaabi said.

Original article

 

_________________________



We invite you to join us as a sponsor. Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.

_________________________


Story by Mohammed Sergie and Anthony Dipaola from Bloomberg.


bloomberg.com 12 16 2018

_________________________

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95, '98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1


 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.