Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
DUBAI, United Arab Emirates (AP) — The state-owned Qatar Petroleum has signed an agreement to acquire a 30 percent stake in two Exxon Mobil affiliates in Argentina.
The agreement gives the Qatari oil and gas company shares in ExxonMobil Exploration Argentina S.R.L. and Mobil Argentina S.A. for exploration, drilling and production of unconventional shale oil and gas in Vaca Muerta in the Neuquén province in western Argentina.
Qatar Petroleum says the agreement that was signed on Sunday evening with Exxon Mobil in the capital, Doha, marks the first time the company invests in Argentina. The company did not disclose the value of the deal.
Qatar Petroleum is the world's largest producer of liquefied natural gas. The small, but wealthy Arab state shares the world's biggest gas field, located in the Persian Gulf, with Iran.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
