Qatar Petroleum Buys 35% in Three Offshore Oil Fields in Mexico From Italy’s Eni

DOHA (Sputnik) – The Qatar Petroleum (QP) state-owned company reached an agreement with Italy’s Eni oil and gas company to buy 35 percent of the project, which includes three offshore oil fields in the Gulf of Mexico, Qatari Energy Minister and QP CEO Saad Sherida Al-Kaabi said.

"We are pleased to sign an agreement to acquire a 35-percent stake with a major player in the energy market, such as Eni, to participate in the development and production of three oil fields in Mexico. It will be another step in expanding the international reach of QP and its presence in Mexico," Al-Kaabi said on Sunday.

The agreement provides for participation in oil production in the fields of Amoca, Mizton and Tecoalli, situated in the Bay of Campeche in the southern part of the Gulf of Mexico.

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Al-Kaabi said that oil production in the Bay of Campeche was expected to start in mid-2019. The Qatar Petroleum expected that by 2021, together with Eni they would be able to produce up to 90,000 barrels of oil per day in this place.