QatarEnergy signed an exploration and development contract for two offshore oil and gas blocks with Angola.

In this way, the British-Dutch company Shell will hold a 50% stake, QatarEnergy a 30% stake, and the Angolan company Sonangol a 20% stake in the exploration and development of the aforementioned offshore blocks.

In recent years, QatarEnergy has signed major contracts to enter oil and gas projects abroad, from Kazakhstan to Syria, Uruguay, South Africa and the United States. The company recently, in June as well, signed an exploration and development contract for an oil and gas block in Cyprus and became a partner in the project of the American company ExxonMobil.

Following attacks by the Islamic Republic on Qatar’s Ras Laffan facilities, QatarEnergy has lost 17% of its liquefied natural gas production capacity, and since the Islamic Republic’s disruption in the Strait of Hormuz, Qatar’s LNG exports have fallen sharply. Before the Middle East war, Qatar supplied one fifth of the world’s LNG consumption.