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QatarEnergy Acquires Stake in 3 Exploration Blocks Offshore Uruguay

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QatarEnergy has acquired participating interests in three offshore exploration blocks in Uruguay, from Shell (SHEL) subsidiary BG International, marking its first foray into the country's upstream sector, it said Wednesday.

The company did not disclose the acquisition cost.

QatarEnergy now holds a 30% interest in block OFF-2. Shell, which owns a 70% interest, operates the block.

In block OFF-4, operated and 50% owned by APA, QatarEnergy now holds an 18% interest. Shell holds the remaining 32% stake, the statement said.

The Middle East company also acquired a 30% interest in block OFF-7, where Shell holds a 40% stake and Chevron (CVX) 30%.

The three blocks span 11,155 to 18,227 square kilometers, according to the report.

Price: $87.56, Change: $-0.90, Percent Change: -1.02%

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