International Finance
Oil & Gas

Qatar Petroleum, Total to explore offshore Namibia blocks

While Qatar Petroleum will hold a 30% participating interest, Total will hold 40%

Qatar Petroleum and France’s Total have signed exploration and production agreements for two blocks offshore the Republic of Namibia.

According to the agreement between Qatar Petroleum and Namibia, Qatar Petroleum will hold a 30 percent interest in the Block 2913B, offshore Namibia.  Total, which is also the operator of the field will hold a 40 percent participating interest. Similarly, Qatar Petroleum will hold a 28.33 percent participating interest in Block 2912 and Total will hold 37.78 percent.

The agreements between Qatar Petroleum and Namibia are subject to regulatory approvals as well as the approvals from other partners such as Impact Oil and Namcor. Impact Oil and Namcor holds a 20 percent and 10 percent participating interest respectively in Block 2913. While in Block 2912, their participating interests are 18.89 percent and 15 percent.

Qatar’s Minister of State for Energy Affairs Saad Sherida Al Kaabi told the media, “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.”

Block 2913B is located 150 km west of the offshore Kudu gas field, and block 2912 is west of block 21913B. Exploration in both blocks which are located in the Orange Basin will begin in the first half of 2020.

Last month, Qatar Petroleum and Total signed a similar agreement for two blocks offshore Guyana in Latin America and in Kenya.

Besides Namibia, Qatar Petroleum’s international portfolio also includes Morocco, Argentina, Brazil, Mexico, Cyprus, Mozambique and South Africa.

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