Qatar Petroleum has added to its international expansion efforts with another farm-in deal involving the French oil major Total, this time in Namibia.
Qatar Petroleum will acquire a 30 percent stake in Block 2913B, with Total (the Operator) holding a 40% participating interest.
The other partners in the block are Impact Oil (20%), and Namcor (10%). According to QP, the first exploration well in the block is scheduled to be drilled in the first half of next year.
As for the Block 2912, Qatar Petroleum will acquire a 28.33% participating interest in Block 2912, with Total as the operator holding a 37.78% participating interest. The other partners in the block are Impact Oil (18.89%) and Namcor (15%).
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and President & CEO of Qatar Petroleum, said: “We are pleased to expand our global exploration activities into Namibia, which further strengthens our presence in Africa. Working on these prospective frontier blocks with our valuable long-term partner, Total, will give another boost to our efforts towards implementing our international growth strategy.”
Blocks 2913B and 2912 sit adjacent to one another offshore Namibia. Block 2913B is 2,600-3,300 meters deep with an area of about 8,215 square kilometers, while Block 2912 is 3,300-3,800 meters deep with an area of about 7,813 square kilometers.
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