QatarEnergy signed an agreement with ExxonMobil Canada (ExxonMobil) to farm into an exploration license offshore the province of Newfoundland and Labrador in Canada.

The transaction has received all necessary consents from the Canada- Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB).
According to the agreement, QatarEnergy will hold a 40% participating interest in license EL 1165A, where the Hampden exploration well activities are planned. The remaining interest is held by ExxonMobil Canada.

Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said, “We are pleased to conclude this agreement which represents our first entry into Offshore Canada, in an established producing basin with the leading producer in the area. This builds on our strong partnership with ExxonMobil and is an important addition to our growing international exploration portfolio.”

His Excellency Minister Al-Kaabi added, "I would like to take this opportunity to thank the C-NLOPB for supporting the transaction, and to thank ExxonMobil, our strategic partner, for their cooperation and efforts to conclude this agreement.”
The block covered by this license is located approximately 450 km east of the city of St. John’s in Newfoundland and Labrador, in water depths of approximately 1,100 meters.

About Qatar Energy

As a fully integrated energy corporation, Qatar Energy covers the full spectrum of the oil and gas value chain – from exploration to production, from processing and refining to sales and delivery.

As stewards of Qatar's natural resources and the world's largest provider of LNG, our strength rests in our ready access to Qatar's unique reserves to provide energy that fuels social and economic prosperity.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.