Qatar, PetroChina Ink Block 4 Exploration Deal

Qatar Petroleum has signed an agreement with PetroChina which will allow the Chinese oil and gas giant to acquire from GDF Suez 40% of the exploration and production rights in Qatar’s Block 4.

GDF, with 60% stake, will remain as the operator of the block.

Block 4 is an offshore block located in the northern sector of Qatar, close to gas rich North Field. It extends for over 2,500 square kilometers in area at water depths up to 75 meters.

Drilling in Block 4 is expected to start in next few months.