Qatar Petroleum has signed agreements with France's TotalEnergies to acquire interests in three offshore exploration blocks in South Africa.
Subject to regulatory approvals, Qatar Petroleum will hold a 25% stake in the South Outeniqua block, a 30% interest in the DWOB block, and a 29.17% in the OBD block.
The South Outeniqua block covers an area of approximately 49,000 square kilometers in water depths ranging between 200 and 5,000 meters. TotalEnergies is the Operator and holds the remaining participating interest in the block.
The block is situated south of the 11B/12B block where TotalEnergies, Qatar Petroleum, Canadian Natural Resources Limited and Main Street Limited 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 square kilometers in water depths ranging between 1,000 and 4,200 meters and are located in the Orange Basin directly south of Namibian blocks 2912 and 2913B in which Qatar Petroleum already holds participating interests, and in close proximity to Blocks 2913A and 2914B, into which Qatar Petroleum’s entry was recently announced, pending customary approvals.
The other JV partners in the DWOB block are TotalEnergies (Operator) with a 50% interest and Sezigyn with a 20% interest. In the OBD block the JV partners are TotalEnergies (Operator) with 48.61% stake and Impact with a 22.22% interest.
Saad Sherida Al-Kaabi, 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.”
Qatar Petroleum did not share the financial terms of the agreements.