Total intends to further strengthen its international partnership by signing farm-in agreements with Qatar Petroleum for its exploration acreage in Namibia, Guyana and Kenya
Qatar Petroleum has signed farm-in agreements with France-based integrated oil and gas company Total for its exploration acreage in Namibia, Guyana, and Kenya.
The transactions are subject to the approval by regulatory authorities and following completion, Qatar Petroleum would take part in Total’s operations in the three countries.
Total president exploration & production Arnaud Breuillac said: “Following on from our first discovery together and the opening of a new gas province on the Brulpadda prospect in South Africa, the latest agreements are an important milestone in the long-standing partnership between Total and Qatar Petroleum.
“As their long-term partner in Qatar, where we have a well-established presence, we are committed to continuing to support Qatar Petroleum’s international development, through partnership and collaboration, as we have successfully done in the past.”
Total agreed to transfer its interests in various assets to Qatar Petroleum
Under the agreements, Total would transfer its 30% interest in Block 2913B to Qatar Petroleum, retaining 40% interest, and 28.33% interest in Block 2912 retaining 37.78%, which are located in the Orange Basin, offshore Namibia.
A first exploration well on Block 2913B is planned to be drilled in 2020.
Total would transfer 40% of the company holding its existing 25% interests in the Orinduik and Kanuku blocks, adjacent to the Stabroek Block in the prolific offshore Guyana Basin, keeping the remaining 60%.
After the Jethro discovery on the Orinduik license earlier this month, the company has started drilling a second exploration well on the same block and a third one is planned on the Kanuku license.
The farm-in agreement will also see Total, along with ENI, transferring a combined 25% interest in Blocks L11A, L11B and L12, located deep offshore Kenya, to Qatar Petroleum, reducing its stake from 45% to 33.75%.
Qatar Petroleum acquired a 15% share capital of Total E&P Congo in 2013 and became its shareholder. In 2018, Total transferred a 25% working interest to Qatar Petroleum in the 11B/12B license in South Africa.