QatarEnergy, ExxonMobil win exploration bid in Parcel 8 offshore Canada

QatarEnergy, ExxonMobil win exploration bid in Parcel 8 offshore Canada

Qatari state-owned petroleum company, QatarEnergy and US-based ExxonMobil have secured a key exploration of an offshore block offered by the province of Newfoundland and Labrador in Canada.

The Parcel 8 of the Orphan Basin winning bid by QatarEnergy, a 30 percent working interest, and ExxonMobil, the operator with a 70 percent working interest, was announced by the Canada-Newfoundland and Labrador Offshore Petroleum Board ‘C-NLOPB’ as part of the 2022 Newfoundland and Labrador Call For Bids NL22-CFB01.

Saad Sherida Al Kaabi

President & CEO

QatarEnergy “We are pleased to be the successful bidder in Parcel 8 offshore Canada, and look forward to maturing the lead prospect’s potential, testing an exciting play within a transparent and stable regulatory environment. This successful bid demonstrates our ambition to further increase our footprint in the Atlantic basin, as part of our international growth drive. I would like to take this opportunity to thank the C-NLOPB for an efficient tender process, as well as our strategic partner, ExxonMobil, for their excellent cooperation in achieving this result.”

Located offshore Eastern Canada, Parcel 8 lies in water depths of 2,500 to 3,000 meters and covers an area of approximately 2,700 square kilometers. Entry to the Parcel 8 license is subject to customary government