Qatar’s state-owned oil and natural gas company has announced entry into the Canadian energy patch by picking up a 40% share in a suspended ExxonMobil Canada Ltd. drilling project 270 miles offshore of the Newfoundland capital, St. John’s.

Hydrocarbon Production

QatarEnergy, formerly Qatar Petroleum, described the deal as gaining a foothold in an established producing region by expanding commercial relations with a “strategic partner” in oil supply development.

“This builds on our strong partnership with ExxonMobil and is an important addition to our growing international exploration portfolio,” said QatarEnergy President Saad Sherida Al-Kaabi, who is also the country’s energy minister.

Qatar and ExxonMobil are partnering in, among other things, the Golden Pass liquefied natural gas...