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Qatar Petroleum signs agreement with GDF SUEZ and PetroChina

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Publish time: 27th July, 2012      Source: CNPC
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On July 25, Qatar Petroleum (QP), representing the Government of the State of Qatar, signed an agreement authorizing PetroChina Investment to acquire from GDF SUEZ Exploration Qatar B.V. 40% of the exploration and production rights under its Qatar's Block 4 Exploration and Production Sharing Agreement (EPSA). GDF SUEZ, with 60% stake, will remain as the operator of the block.

The agreement was signed by His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman & Managing Director of Qatar Petroleum; Mr. Jean-Marie Dauger, Executive Vice President of GDF SUEZ; and Mr. Xiangdong Zhu, Director of PetroChina Investment Qatar Block 4 Limited.

Block 4 is an offshore block located in the northern sector of Qatar, close to the North Field. It extends for over 2,500 square kilometers in area at water depths up to 75 meters. With the formal signing of the agreement, the two partners—GDF SUEZ and PetroChina—will begin drilling in Block 4 by the next few months.