Cosmo Oil takes 29.5% stake in Qatar block
Posted:06 October 2008
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Japan’s Cosmo Oil has acquired 29.5% stake in Block 11 to join an oil field development project offshore Qatar through its fully owned subsidiary.
Cosmo Energy Exploration & Development will hold the stake while Germany’s Wintershall Holding AG, which operates the block will have 41%, with Anadarko holding the remainder, the company said.
The company said it will shoulder about 60% of the project's test-drilling costs, estimated to total $15-20 million.
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