PROJECTS: Qatar Petroleum acquires stakes in offshore exploration blocks in South Africa with TotalEnergies

Qatar Petroleum said on Sunday that it has entered into agreements with TotalEnergies to acquire working interests in three offshore exploration blocks in South Africa.

 

Under the terms of the agreements, subject to approvals by the South African government, Qatar Petroleum will hold a 25 percent participating interest in the South Outeniqua block, a 30 percent participating interest in the DWOB block, and a 29.17 percent participating interest in the OBD block, the Qatari company said in a press statement.

 

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said the acquisitions bolster the company's South African regional upstream portfolio, and build upon the drilling success in the 11B/12B block.

 

The South Outeniqua block covers an area of approximately 49,000 square kilometres in water depths ranging between 200 and 5,000 metres. 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 and Main Street 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 kilometres in water depths ranging between 1,000 and 4,200 metres 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 percent participating interest, and Sezigyn with a 20 percent participating interest. In the OBD block the JV partners are TotalEnergies (Operator) with a 48.61 percent, participating interest and Impact with a 22.22 percent participating interest.

 

(Writing by SA Kader; Editing by Anoop Menon)