Qatar Petroleum has entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America.
Under the agreement, which is subject to customary regulatory approvals by the government of Guyana, Qatar Petroleum will hold 40% of Total’s existing 25% participating interest in the Orinduik block. The other partners in this block are operator Tullow Oil with a 60% participating interest and EcoAtlantic with a 15% interest.
Also under the agreement, Qatar Petroleum will hold 40% of Total’s existing 25% participating interest in the neighboring Kanuku block. The other partners in this block are operator Repsol with a 37.5% participating interest and Tullow Oil with a 37.5% interest.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and President & CEO of Qatar Petroleum, said, “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.”
Three exploration wells are planned in these blocks this year: two on the Orinduik block, including the Jethro well which is currently being drilled, and one on the Kanuku block.
The Orinduik block is located 120 kilometers offshore Guyana and has a total area of about 1,800 square kilometers, with water depths ranging from 70 to 1,400 meters.
The Kanuku block is located 100 km offshore Guyana and has a total area of about 5,200 square kilometers, with water depths ranging from 70 to 800 meters.