Qatar Petroleum has entered into agreements with Total for a share of exploration and production rights in two blocks offshore the Republic of Namibia.
Under the agreements, which are subject to customary regulatory approvals by the government of Namibia and approvals by the partners in the blocks, QP will hold a 30% participating interest in Block 2913B, with Total (the Operator) holding a 40% participating interest.
The other partners in the block are Impact Oil (20%), and Namcor (10%). A first exploration well is scheduled to be drilled in the first half of next year.
Also under the agreements, QP will hold a 28.33% participating interest in Block 2912, with Total (the Operator) holding a 37.78% participating interest. The other partners in the block are Impact Oil (18.89%) and Namcor (15%).
On the agreements, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, also the president and CEO of QP, said, “We are pleased to expand our global exploration activities into Namibia, which further strengthens our presence in Africa. Working on these prospective frontier blocks with our valuable long-term partner, Total, will give another boost to our efforts towards implementing our international growth strategy.”
Al-Kaabi added, “We look forward to working together with the Namibian Government and with our partners in these blocks to achieve positive results that meet the interests of all parties.”
Blocks 2913B and 2912 sit adjacent to one another offshore Namibia. Block 2913B is 2,600-3,300 metres deep with an area of about 8,215 square kilometres, while Block 2912 is 3,300-3,800 metres deep with an area of about 7,813 square kilometres.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qatar’s industrial production rises 1% y-o-y in September
Al Khor Recreation Extension project achieves 3.2mn safe man hours without lost time injury
KPMG in Qatar launches ‘Turkish desk’; holds investment seminar in Istanbul
QFC legal team honoured at annual Qatar Business Law Forum and Awards
Eskom CEO appointment met with surprise and scepticism
SEC chief cites fishy letters in support of policy change
Asia markets end higher after record close on Wall Street
China electronics firm struggles as defaults vex private sector
Dollar roadblock from Fed balance sheet sets up euro rally