Qatar Petroleum Acquires Stake in Total’s Guyana Assets

Qatar Petroleum Acquires Stake in Total’s Guyana Assets

Qatar Petroleum (QP) announced on July 29 that it has reached a deal with Total to acquire a share of exploration and production rights in two blocks offshore Guyana, Reuters reported.

Three exploration wells are planned in these blocks. Two on the Orinduik block, including the Jethro well which is currently being drilled, and one on the Kanuku block, according to a company statement.

QP will hold 40% of the French energy giant’s 25% participating interests in both Orinduik and the Kanuku blocks.

“We are pleased to expand our global exploration footprint into Guyana together with our valuable, long-term partner, Total, in these offshore blocks in this prospective basin” Qatar Petroleum CEO, Saad Al-Kaabi, said.

For the Orinduik block, other partners are Tullow Oil with a 60% participating interest and EcoAtlantic with a 15% interest, while Repsol and Tullow Oil hold a 37.5% stake each in the Kanuku block.


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