Qatar Petroleum Farms into Three Offshore Exploration Blocks in South Africa
State-owned Qatar Petroleum (QP) has entered into agreements with TotalEnergies SE to farm into three offshore exploration blocks located offshore South Africa. The transaction includes a 25% interest in the South Outeniqua block in the Outeniqua basin, a 30% interest in the DWOB block in the Orange basin, and a 29.17% interest in the OBD block in the Orange basin. The terms of the transaction have not been disclosed.
The South Outeniqua block covers an area of approximately 49,000 sq. km in the Outeniqua basin, in water depths ranging between 200 and 5,000 m. The block is situated south of the 11B/12B block, where the partners have announced significant gas condensate discoveries in the Brulpadda and Luiperd prospects. The DWOB block covers an area of approximately 37,526 sq. km in the Orange basin, in water depths ranging from 1,000 to 4,200 m, while the OBD block covers an area of approximately 15,474 sq. km in the Orange basin, in water depths ranging between 1,000 and 4,200 m.
“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. We are delighted to have the opportunity to work with our strategic partner TotalEnergies to explore these promising and prospective blocks, and to further develop our relationship with the South African Government and other joint venture partners, whilst also pushing forward with Qatar Petroleum’s ambitious growth strategy,” commented HE Saad Sherida Al-Kaabi, President & CEO of QP.
Headquartered in Doha, QP is engaged in activities that encompass the entire spectrum of the oil & gas value chain in Qatar, as well as regionally in the Middle East and internationally. QP and its subsidiaries operate across the exploration & production, refining, marketing and sales of oil and natural gas, and liquefied natural gas (LNG) segments, as well as the production and sale of natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilizers, steel and aluminum.
The transaction is subject to customary closing conditions, including regulatory approvals.