Qatar Petroleum made agreements with TotalEnergies to acquire stakes in three offshore exploration blocks in South Africa.
Under the terms of the agreements, which are subject to customary approvals by the government of South Africa, Qatar Petroleum will hold a 25 percent participating interest in the South Outeniqua block, a 30% participating interest in the DWOB block, and a 29.17 percent participating interest in the OBD block.
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.”
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. It is located directly 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.
The other JV partners in the DWOB block are TotalEnergies (Operator) with a 50 percent participating interest, and Sezigyn with a 20 percent participating interest. In the OBD block the JV partners are TotalEnergies (Operator) with a 48.61 percent, participating interest and Impact with a 22.22 percent participating interest.
