QP, Chevron Ink Offshore Moroccan Deal
Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in the Kingdom of Morocco. Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the deep-water leases, while Chevron will retain a 45% interest and remains the operator and Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest. The three offshore areas are Cap Rhir Deep
Chevron Needs 2.5 Years to Decide on Morocco Prospects
U.S energy major Chevron needs at least two and a half years to gather seismic data before deciding whether to stay in Morocco, the head of its Moroccan affiliate said on Wednesday. In January, Chevron Morocco Exploration Ltd signed an agreement with Morocco's Office National Des Hydrocarbures Et Des Mines (Onhym) for three deepwater blocks in one of the less explored areas in the region. Vice President and Country Manager at Chevron Morocco Exploration, Carl Atallah, told Reuters the company was still in the early stages of exploration. "We plan two and a half years of seismic data to
August 2026
