QatarEnergy, with 30 percent working interest, and ExxonMobil, the operator with a 70 percent working interest, have won the exploration right after a successful bid for Parcel 8 in Canada.
The Parcel 8 winning bid by QatarEnergy and ExxonMobil was announced by the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).
Located offshore Eastern Canada, Parcel 8 lies in water depths of 2,500 to 3,000 meters and covers an area of approximately 2,700 square kilometers.
QatarEnergy ‘pleased’ with bid
Commenting on this occasion, Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, said: “We are pleased to be the successful bidder in Parcel 8 offshore Canada, and look forward to maturing the lead prospects potential, testing an exciting play within a transparent and stable regulatory environment.
“This successful bid demonstrates our ambition to further increase our footprint in the Atlantic basin as part of our international growth drive. I would like to take this opportunity to thank the C-NLOPB as well as our strategic partner, ExxonMobil, for their excellent cooperation in achieving this result.”
Entry to the Parcel 8 license is subject to customary government approvals.
Meanwhile, QatarEnergy announced that it has selected ConocoPhillips as its third and final international partner in the North Field South (NFS) expansion project, which comprises two LNG mega trains with a combined capacity of 16 million tons per annum (MTPA).
Pursuant to the agreement, ConocoPhillips will have an effective net participating interest of 6.25 percent in the NFS project, out of a 25 percent interest available for international partners. QatarEnergy will hold the remaining 75 percent interest.
The North Field Expansion Projects, comprising NFS and the North Field East (NFE) expansion projects, is the industry’s largest ever LNG project. It will start production in 2026 and will add more than 48 MTPA to the worlds LNG supplies and raise Qatar’s LNG production capacity to 126 MTPA.
Earlier this year QatarEnergy announced it will build the world’s largest blue ammonia facility. The Ammonia-7 Project will have a capacity of 1.2 million tonnes per annum (MTPA) of blue ammonia, making it the world’s largest such facility. The new plant will operated by QAFCO as part of its integrated facilities.
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