Shell has signed two production-sharing contracts to explore deepwater blocks C-10 and C-19 offshore Mauritania, the company has announced.
Shell will have a 90% stake and be operator, while Mauritania’s state oil company will retain 10%.
The agreement also gives AIM-listed Chariot Oil & Gas a back-in right for a working interest of 10-20% in the C-19 block at a future date subject to regulatory approval.
The blocks are Shell’s first acreage in the West African Atlantic Margin exploration basin, which “ has significant potential”,...
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