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|16 December, 2018

Qatar Petroleum signs deal with Italy's ENI for stake in Mexican oilfields

QP will acquire a 35% stake in the Mexican oilfields

Mr. Saad Sherida Al-Kaabi, Qatar Petroleum President and CEO

Mr. Saad Sherida Al-Kaabi, Qatar Petroleum President and CEO

Qatar Petroleum/Handout via Thomson Reuters Zawya

DOHA - Qatar Petroleum (QP) signed on Sunday an agreement with Italy's ENI to buy a stake in three offshore oilfields in Mexico, QP's chief executive said.

Under the deal, QP will acquire a 35 percent stake in the Mexican oilfields, where production is expected to start by mid 2019 and ramp up to 90,000 barrels per day by 2021, QP CEO Saad al-Kaabi said at a news conference in Doha.

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(Reporting by Rania El Gamal and Eric Knecht; Editing by Mark Potter) ((rania.elgamal@thomsonreuters.com; +971 562 160 434; Reuters Messaging: rania.elgamal.reuters.com@reuters.net ; Twitter: https://twitter.com/Rania_ElGamal))

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