Qatar Energy has signed an agreement with Shell to acquire a 40 percent stake in the C10 offshore exploration block off the coast of Mauritania. Under the agreement, which will be subject to the usual formal approvals by the Mauritanian government, Qatar Energy will own a 40 percent stake in the Exploration and Production Agreement for Block C10, while Shell (the operator) will own a 50 percent stake, and the Mauritanian Hydrocarbons Company will hold a 10 percent stake. HE Engineer Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of Qatar Energy, described the agreement as an opportunity to contribute to the exploration, exploration and production sector in Mauritania, which will enhance Qatar’s exploration energy presence in the African continent, looking forward to a successful exploration program. His Excellency added: "We are pleased to cooperate in this opportunity with our strategic partner, Shell Company, and with the Mauritanian Hydrocarbons Company. We look forward to cooperating with the Government of the Islamic Republic of Mauritania, and I thank them and our partners for their valuable support and cooperation.". Area C10 covers an area of about 11,500 square kilometres, and lies about 50 kilometers off the coast of Mauritania, in waters ranging from 50 to 2,000 meters in depth.
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