Qatar Energy Agrees on Offshore Deal in Angola
Qatar Energy has signed a Memorandum of Understanding with Shell and Sonangol Exploration and Production Company, along with the National Agency for Oil, Gas, and Biofuels in Angola, regarding exploration contracts for two offshore areas off the coast of Angola. Under the agreement, Qatar Energy will hold a 30% stake after final arrangements and government approvals are completed, while Shell will have a 50% share and Sonangol 20%. This move aligns with Qatar Energy’s international strategy for oil and gas exploration and production and was announced in Luanda on the sidelines of the Angolan Oil and Gas Conference.
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