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Qatar Petroleum to buy stake in ExxonMobil Mozambique blocks

Reuters  |  CAIRO 

(Reuters) - Petroleum said on Saturday it had agreed to buy a 10 percent participating interest in three of ExxonMobil's offshore exploration blocks in Mozambique's Angoche and basins.

It will be part of a consortium made up of affiliates of with a 50 percent stake, with 20 percent, with 20 percent interest, and Petroleum with 10 percent.

and the plan to strengthen "energy partnerships," the emirate's minister of state for energy affairs, Saad Al-Kaabi, said in a statement after a meeting in with his U.S. counterpart

"This is a milestone for as it marks its first foray into Mozambique's promising offshore basins," Qatar Petroleum said in a statement on its website.

The deal is subject to regulatory approval by

(Reporting by Nayera Abdallah; Editing by and Alexander Smith)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, December 08 2018. 18:44 IST