QatarEnergy acquires interests in new exploration blocks offshore Uruguay

Moscow, May 20 – Neftegaz.RU. QatarEnergy has acquired participating interests in three exploration blocks offshore the Oriental Republic of Uruguay from BG International Limited, a subsidiary of Shell.

Under the agreements, QatarEnergy has acquired:

• an 18% interest in block OFF-4, while Shell held 32%, and APA Corporation (the operator) retained the remaining 50%;
• the company has also acquired a 30% interest in block OFF-2, which is operated by Shell with a 70% interest;
• in the third exploration block OFF-7, QatarEnergy has acquired a 30% interest, with Shell (the operator) retaining 40%, and Chevron holding the remaining 30%.

Blocks OFF-2, OFF-4, and OFF-7 are located offshore Uruguay’s Atlantic coast, covering areas ranging from 11,155 to 18,227 square kilometers and water depths ranging from 40 to 4,000 meters.