Mauritania Signs Oil Production Contract with British Company

(MENAFN- Qatar News Agency) The Mauritanian government signed last night a contract for the production and sharing of oil production with British Chariot Oil and Gas Company . A statement by the Mauritanian Petroleum Ministry said the contract targeted an offshore sector in the coastal basin parallel to the capital Nouakchott where foreign companies from Malaysia and Britain produce oil and gas for years. After the signing the two sides expressed the hope that the contract would result in the production of oil and gas from the Mauritian territorial waters, but they did not touch upon details of the division of the product ratios. The targeted field in this agreement produces about 11 thousand barrels per day since 2002.