Qatar Petroleum to buy stake in ExxonMobil Mozambique blocks

Qatar Petroleum said is set to buy a 10 percent participating interest in three of ExxonMobil’s offshore exploration blocks. [Photo: Courtesy]

CAIRO- Qatar Petroleum said on Saturday it had agreed to buy a 10 percent participating interest in three of ExxonMobil’s offshore exploration blocks in Mozambique’s Angoche and Zambezi basins.

It will be part of a consortium made up of affiliates of ExxonMobil with a 50 percent stake, Empresa Nacional de Hidrocarbonetos with 20 percent, Rosneft with 20 percent interest, and Qatar Petroleum with 10 percent.