Friday, 17 September 2021 09:55 GMT

QP enters into three offshore exploration blocks in South Africa with TotalEnergies


(MENAFN - The Peninsula) Doha: Qatar Petroleum (QP) entered into agreements with TotalEnergies to acquire working interests in three offshore exploration blocks in South Africa.

Under the terms of the agreements, which are subject to customary approvals by the government of South Africa, Qatar Petroleum will hold a 25% participating interest in the South Outeniqua block, a 30% participating interest in the DWOB block, and a 29.17% participating interest in the OBD block.

Commenting on this occasion, HE the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum Saad bin Sherida Al Kaabi, said "These acquisitions represent an excellent addition to our South African regional upstream portfolio, and build upon the positive progress following the recent drilling success in the 11B/12B block."

HE Minister Al Kaabi added, "We are delighted to have the opportunity to work with our strategic partner TotalEnergies to explore these promising and prospective blocks, and to further develop our relationship with the South African Government and other joint venture partners, whilst also pushing forward with Qatar Petroleums ambitious growth strategy. I would like to take this opportunity to thank the South African authorities and partners for their valuable support and cooperation."

The South Outeniqua block covers an area of approximately 49,000 square kilometers in water depths ranging between 200 and 5,000 meters. TotalEnergies is the Operator and holds the remaining participating interest in the block. It is located directly south of the 11B/12B block where TotalEnergies, Qatar Petroleum, Canadian Natural Resources Limited and Main Street Limited have announced significant gas condensate discoveries in the Brulpadda and Luiperd prospects.

The DWOB and OBD blocks cover a combined area of about 53,000 square kilometers in water depths ranging between 1,000 and 4,200 meters and are located in the Orange Basin directly south of Namibian blocks 2912 and 2913B in which Qatar Petroleum already holds participating interests, and in close proximity to Blocks 2913A and 2914B, into which Qatar Petroleum's entry was recently announced, pending customary approvals. The other JV partners in the DWOB block are TotalEnergies (Operator) with a 50% participating interest, and Sezigyn with a 20% participating interest.

In the OBD block the JV partners are TotalEnergies (Operator) with a 48.61%, participating interest and Impact with a 22.22% participating interest. 

MENAFN04072021000063011010ID1102387918


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.