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Qatar Firm a Step Away From Acquiring Offshore Oil Blocks in Kenya

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Total and Qatar Petroleum have firmed up an agreement to sale a stake in three oil blocks in Kenya in a deal that will see the latter farm into Total-held exploration acreage in two other countries.

In Kenya, the French firm together with its Italian partner Eni will transfer a combined 25% interest in Blocks L11A, L11B and L12 to Qatar Petroleum. Total’s interest will be reduced from 45% to 33.75%.

All three blocks are located in Kenya’s deep offshore in Lamu. An exploration well is planned for Block L11B in 2020.

They have a total area of approximately 15,000 square kilometres, with water depths ranging from about 1,000 metres to 3,000 metres. Eni also owns blocks L21, L23 and L24.

Total will also transfer to Qatar Petroleum a 30% interest in Block 2913B in Namibia and retain a 40% interest.

Total will also transfer to Qatar Petroleum 28.33% in Block 2912 and retain 37.78%.

The deepwater blocks are located in the Orange Basin, offshore Namibia. A first exploration well is scheduled to be drilled next year on Block 2913B.

In Guyana, Qatar Petroleum will have 40% of the company holding Total’s existing 25% interests in the Orinduik and Kanuku blocks.

The two are adjacent to the Stabroek Block in the prolific offshore Guyana Basin. Total will retain the remaining 60% of this company.

Following the Jethro discovery on the Orinduik license earlier this month, a second exploration well (Joe-1) is being drilled on the same block.

A third (Carapa-1) is planned for later this year on the Kanuku license.

“Following on from our first discovery together and the opening of a new gas province on the Brulpadda prospect in South Africa, the latest agreements are an important milestone in the long-standing partnership between Total and Qatar Petroleum,” stated Arnaud Breuillac, President Exploration & Production at Total.

“As their long-term partner in Qatar, where we have a well-established presence, we are committed to continuing to support Qatar Petroleum’s international development, through partnership and collaboration, as we have successfully done in the past.

”The agreements are subject to regulatory approvals.

Qatar Petroleum became a shareholder of Total E&P Congo in 2013, acquiring 15% of its share capital.

In 2018, Total transferred a 25% working interest to Qatar Petroleum in the 11B/12B license it operates in South Africa, site of the recent Brulpadda discovery.

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BT Correspondent
BT Correspondenthttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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