Qatar Petroleum has signed agreements with TotalEnergies for acquiring working interest in three offshore exploration blocks in South Africa, a press release reported.
According to the terms of the agreements, Qatar Petroleum 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.
On this occasion, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said: “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.”
Al-Kaabi added, “we are delighted to have the opportunity to work with our strategic partner TotalEnergies to explore these promising and prospective blocks, and to further develop our relationship with the South African Government and other joint venture partners, whilst also pushing forward with Qatar Petroleum’s ambitious growth strategy. I would like to take this opportunity to thank the South African authorities and partners for their valuable support and cooperation.”
The agreements are pending the customary approvals by the government of South Africa.