Qatar takes stakes in two Exxon oil and gas projects offshore Canada | Reuters
QatarEnergy said on Wednesday it signed a deal for stakes in two of ExxonMobil's (XOM.N) offshore explorations in Canada as the Qatari state-owned firm builds up its global energy portfolio.
The Qatari company first entered offshore exploration in Canada in 2021 with a 40% stake in ExxonMobil's licence for EL 1165A off the coast of Newfoundland and Labrador.
The latest farm-in agreement announced on Wednesday gives QatarEnergy a 28% interest in licence EL 1167, with ExxonMobil Canada holding 50% and Cenovus Energy (CVE.TO) 22%, as well as 40% in licence EL 1162, with ExxonMobil Canada holding 60%.
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