QP-Shell-CNPC JV signs exploration agreement

18 May 2010

Qatar Petroleum (QP) has signed an exploration and production sharing agreement (EPSA) with Shell and China National Petroleum Corp (CNPC) for the country's gas basin, Block D, the Peninsula has reported. The agreement will last for 30 years and begins with a five year first exploration period. Shell, as operator, will hold a 75% equity share with CNPC holding the remaining 25% share.

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