Qatar Petroleum signs EPSA agreement with Anadarko
Qatar Petroleum (QP), the country’s state producer and Anadarko Petroleum Corporation signed Tuesday a new Exploration and Production Sharing agreement (EPSA) for offshore Block-4.
The 3,132 sq. kilometer offshore acreage designated as Block-4 Area, is located north of the country. It is situated within some of the world’s most prolific petroleum systems and has remained unexplored for the last 30 years until the territorial contentions between Qatar and neighbouring Bahrain were resolved, The Peninsula reported.
The terms of the agreement provide for an initial five-year exploration phase during which Anadarko, in partnership with QP, will undertake a work program comprising technical studies, seismic reprocessing, acquisition of 2D and 3D seismic data and exploratory drilling.
Pending the results, hydrocarbon development will be carried out. All relevant operations and studies will be implemented with QP supervision. (menareport.com)
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