Qatar acquires stake in Chevron oil project off Morocco

February 8, 2016 8:01 AM

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DOHA, Qatar – The Qatari state oil company, Qatar Petroleum, says it has reached a deal with Chevron to acquire 30 percent of its stake in offshore drilling areas in Morocco.

Under the terms of the deal announced Monday, Chevron will hold onto a 45-percent interest in the offshore leases, while Morocco will retain a 25 percent stake. Qatar Petroleum says the Moroccan government has approved the deal.

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