Total signs asset transfer agreements with Qatar Petroleum
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Total signs asset transfer agreements with Qatar Petroleum

9:33 AM, 27th August 2019
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PARIS, FRANCE: Total SA and Qatar Petroleum have further strengthened their international partnership by signing agreements under which Qatar Petroleum will farm into Total-held exploration acreage in Namibia, Guyana and Kenya.

Following completion of the transactions, Qatar Petroleum will partner with Total in each country as outlined below:

Namibia

Total will transfer to Qatar Petroleum a 30% interest in Block 2913B 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.

Guyana

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

Kenya

With ENI, Total 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. An exploration well is planned for Block L11B in 2020.

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. 

“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. 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,” said Arnaud Breuillac, President Exploration & Production at Total.

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