Qatar Petroleum (QP), the country's hydrocarbon behemoth, has entered into agreements with TotalEnergies to acquire working interests in three offshore exploration blocks in South Africa, as part of strategy to push forward its growth plans.
Under the terms of the agreements, which are subject to customary approvals by the South African government, QP 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.
"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,” said HE Saad Sherida al-Kaabi, the Minister of State for Energy Affairs, and the president and chief executive of QP.
He said QP is delighted at having the opportunity to work with its strategic partner TotalEnergies to explore these promising and prospective blocks, and to further develop the relationship with the South African government and other joint venture (JV) partners, whilst also pushing forward with QP’s ambitious growth strategy.
The South Outeniqua block covers an area of about 49,000 sqkm in water depths ranging between 200m and 5,000m. 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, QP, 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 sqkm in water depths ranging between 1,000m and 4,200m and are located in the Orange Basin directly south of Namibian blocks 2912 and 2913B in which QP already holds participating interests, and in close proximity to Blocks 2913A and 2914B, into which QP’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.
Early last month, QP had said a consortium including it has been awarded two offshore blocks in Suriname, under production sharing contracts as part of the recent Suriname offshore bid round.
In April this year, QP had entered into an agreement with Shell to become a partner in two exploration blocks offshore Namibia.
"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,” said HE Saad Sherida al-Kaabi, the Minister of State for Energy Affairs, and the president and chief executive of QP.
He said QP is delighted at having the opportunity to work with its strategic partner TotalEnergies to explore these promising and prospective blocks, and to further develop the relationship with the South African government and other joint venture (JV) partners, whilst also pushing forward with QP’s ambitious growth strategy.
The South Outeniqua block covers an area of about 49,000 sqkm in water depths ranging between 200m and 5,000m. 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, QP, 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 sqkm in water depths ranging between 1,000m and 4,200m and are located in the Orange Basin directly south of Namibian blocks 2912 and 2913B in which QP already holds participating interests, and in close proximity to Blocks 2913A and 2914B, into which QP’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.
Early last month, QP had said a consortium including it has been awarded two offshore blocks in Suriname, under production sharing contracts as part of the recent Suriname offshore bid round.
In April this year, QP had entered into an agreement with Shell to become a partner in two exploration blocks offshore Namibia.
