Shell, Qatar Energy and SMH today signed a Joint Operating Agreement (JOA) defining their reciprocal rights and obligations in the joint venture for offshore Block C10.
The signing, which marks QE's entry into the partnership on the block, took place under the supervision of His Excellency the Minister of Petroleum, Mines and Energy, Mr Nany Ould Chrougha, who welcomed QE and asked the JV to accelerate exploration work.
The signatories are Mr Turker Sengonil, Country Manager of Shell, Mr Ali Almana, Exploration and Production Director of Qatar Energy and Mr Tourad Abdel Baghi, Managing Director of SMH. It should be noted that the partnership is preparing to drill, before the end of this year, an exploration well in the Panacotta prospect, which would contain oil resources in excess of one billion barrels and open up significant new potential in the unexplored carbonate geological horizons in the National Coastal Basin.
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