DUBAI--State-owned Qatar Petroleum said on Monday it has agreed to buy a 30% stake in three deep-water offshore leases in Morocco from Chevron Corp.'s subsidiary in the north African country.

The sale will reduce Chevron Morocco Exploration's stake in the leases to 45% while Morocco's Office National Des Hydrocarbures Et Des Mines will retain a 25% share, Qatar Petroleum said in an emailed statement.

Chevron will remain the operator of the deep-water leases which are Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep, the statement added, but it didn't state the value of the deal.

Write to Summer Said at summer.said@wsj.com

(END) Dow Jones Newswires

February 08, 2016 04:59 ET (09:59 GMT)

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