Total to transfer some of its shares to Qatar Petroleum
Baku, Azerbaijan, Aug. 27
By Leman Zeynalova - Trend:
France’s Total and Qatar Petroleum have further strengthened their international partnership by signing agreements under which Qatar Petroleum will farm into Total-held exploration acreage in Namibia, Guyana and Kenya, Trend reports with reference to Total.
Following completion of the transactions, which are subject to approval by relevant authorities, Qatar Petroleum will partner with Total in each country.
in Namibia, Total will transfer to Qatar Petroleum a 30 percent interest in Block 2913B and retain a 40 percent interest. Total will also transfer to Qatar Petroleum 28.33 percent in Block 2912 and retain 37.78 percent. The deepwater blocks are located in the Orange Basin, offshore Namibia. A first exploration well is scheduled to be drilled next year on Block 2913B.
In Guyana, Qatar Petroleum will have 40 percent of the company holding Total’s existing 25 percen interests in the Orinduik and Kanuku blocks, adjacent to the Stabroek Block in the prolific offshore Guyana Basin. Total will retain the remaining 60 percen of this company. Following the Jethro discovery on the Orinduik license earlier this month, a second exploration well (Joe-1) is being drilled on the same block. A third (Carapa-1) is planned for later this year on the Kanuku license.
In Kenya, with ENI, Total will transfer a combined 25 percent interest in Blocks L11A, L11B and L12 to Qatar Petroleum. Total’s interest will be reduced from 45 percent to 33.75 percent. All three blocks are located in Kenya’s deep offshore. An exploration well is planned for Block L11B in 2020.
Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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