Qatar Petroleum on Monday announced that it has entered into an agreement to procure 30% of Chevron’s interest in drilling areas, offshore Morocco.

Situated 100 to 200 km West and Northwest of Agadir, the drilling areas include Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep.

Under the agreement, Chevron now hold a 45% interest in the offshore areas, while Morocco will maintain a 25% interest.

According to Fox news, the deal has been approved by the Government of Morocco but the financial terms for the deal were not disclosed.

Anita Fatunji