By Donato Paolo Mancini 
 

Eni Spa (E) has agreed to a farmout agreement enabling Qatar Petroleum to acquire a 30% participating interest in Tarfaya Offshore Shallow Petroleum Agreement, which comprises 12 exploration blocks offshore Morocco, the company said Wednesday.

The Tarfaya area covers a total area of about 23,900 square kilometers (9,228 square miles). Eni currently holds a participating interest of 75% through Eni Maroc, while the Office National des Hydrocarbures et des Mines holds 25%. Eni acts as operator.

The agreement is subject to authorization by the Moroccan authorities, Eni said.

 

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

 

(END) Dow Jones Newswires

March 13, 2019 08:25 ET (12:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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