Oman/Qatar: QP takes stake in block

Qatar Petroleum (QP) signed an agreement on 14 November to acquire a 30% stake in Oman’s offshore Block 52. The other shareholders in the exploration and production-sharing agreement are Italian major Eni (55%) and Oman Oil Company (15%). The agreement was signed by QP chief executive Saad Sherida Al-Kaabi in in Muscat in the presence of Omani oil and gas minister Mohammed Bin Hamad Al-Rumhi. Block 52 covers an area of more than 90,000 km2 and is located in water depths ranging from 10 meters to over 2,000 meters.