Qatar Petroleum Enters Three Blocks Off Kenya

July 23, 2019

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and President & CEO of Qatar Petroleum (Photo: Qatar Petroleum)
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and President & CEO of Qatar Petroleum (Photo: Qatar Petroleum)

Eni, Total and Qatar Petroleum have signed an agreement that will see the Qatari national oil company acquire stakes in three deepwater exploration blocks in the Lamu basin offshore Kenya.

The L11A, L11B and L12 blocks are situated in what is considered to be a frontier and largely unexplored area east of Kenya and have a total area of approximately 15,000 square kilometers, with water depths ranging from about 1,000 meters to 3,000 meters, Qatar Petroleum said.

According to Eni, the blocks hold high exploration potential.

Eni and Total currently hold 55% and 45% interest share in the blocks respectively, with Eni acting as the operator. QP would acquire 25% interest share in each of the blocks, of which 13.75% from Eni and the remaining from Total. Accordingly, the composition of the joint venture should become Eni 41.25%, Total 33.75% and QP 25%.

The proposed deal is pending subject to the approval of the Kenyan authorities.

The deal is the last in a series of recent agreements between Eni and Qatar Petroleum, which reinforces the strategic cooperation between the two companies who are already partners in Oman, Mexico, Morocco and Mozambique.

Categories: Energy Africa


Current News

U.S. Drillers Add Rigs for first Week in Eight

U.S. Drillers Add Rigs for first Week in Eight

S&P Cuts Tullow Oil's Credit Rating

S&P Cuts Tullow Oil's Credit Rating

Japanese Partners Buy into Sepetiba FPSO

Japanese Partners Buy into Sepetiba FPSO

DNO Makes Small Find Offshore Norway

DNO Makes Small Find Offshore Norway

Johan Castberg Oil to Export Direct to Market

Johan Castberg Oil to Export Direct to Market

Yothaka East-2 Sidetrack Disappoints

Yothaka East-2 Sidetrack Disappoints

Keppel Delivers Jackup Rig to Grupo R

Keppel Delivers Jackup Rig to Grupo R

Magazine

Offshore Engineer (Nov/Dec 2019)

This issue of Offshore Engineer is dedicated to Exploration Outlook

Archive
Subscribe

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week