Qatar Extends Total's Offshore Oil Field Rights By 25 Years

Law360, New York (November 14, 2012, 3:54 PM EST) -- Qatar's state-run oil and gas company on Wednesday signed an agreement to allow French energy giant Total SA  to oversee and operate an offshore oil development for another 25 years.

The deal was approved by Qatari Minister of Energy Mohammed bin Saleh Al-Sada, who also heads up Qatar Petroleum. Under its terms, the Qatari company will hold a 60 percent operating interest in the Al Khalij field with Total claiming the rest.

Wednesday's terms take effect when a previous exploration and production sharing agreement, inked in...
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