Gulf Oil and Gas accountACCOUNT

QP Joins Total as Partner in Block 11B/12B in South Africa

Source: www.gulfoilandgas.com 2/5/2018, Location: Africa

Share |
Total has signed an agreement to sell a 25% interest in the Exploration Block 11B/12B, offshore South Africa, to Qatar Petroleum. The transaction remains subject to regulatory approval.

“This transaction enhances the partnership on Block 11B/12B in preparation for the high potential exploration well scheduled to be drilled on the block at the end of 2018. Total is delighted to broaden its long-standing relationship with Qatar Petroleum and combine efforts to explore this promising region offshore South Africa,” commented Arnaud Breuillac, President, Exploration & Production at Total.

Commenting on the agreement, Mr. Saad Sherida Al-Kaabi, the President & CEO of Qatar Petroleum said “We are pleased to join our long-time partner Total in exploration activities in this frontier block offshore South Africa. This is an important milestone in our strategy to expand our international upstream footprint. We hope that the exploration efforts are successful, and we look forward to collaborating with Total, CNR, Main Street, and the South African authorities on this project.”

The Block 11B/12B is located in the Outeniqua Basin, around 175 kilometers off the southern coast of South Africa, and covers an area of 19,000 square kilometers with water depths ranging from 200 to 1,800 meters. Upon receiving all regulatory approvals the new partnership structure will be as follows: Total (operator, 45%), Qatar Petroleum (25%), CNR international (20%) and Main Street (10%).

Total and Qatar Petroleum

Total and Qatar Petroleum have built a strong partnerships through the years. In Qatar, Total also holds a 20% interest in the upstream part of Qatargas 1, as well as stakes in Qatargas 1 (10%), Dolphin Energy (24.5%) and Qatargas 2 train 5 (16.7%). In 2016, Total entered the Al-Shaheen concession with a 30% interest. Total is also partner with Qatar Petroleum in the Laffan Refinery 1 (10%), Laffan Refinery 2 (10%) and the Qapco (20%) and Qatofin (48.6%) petrochemical plants.

In addition to the activities in Qatar, this strategic partnership extends our cooperation in Africa, where Qatar Petroleum holds a 15% stake in Total E&P Congo.

For more information about related Opportunities and Key Players visit Sub-Saharan Africa Projects

Acquisitions and Divestitures News in South Africa >>

Indonesia >>  10/22/2018 - Indonesia has awarded two oil and gas blocks of six auctioned by the government, deputy energy minister Arcandra Tahar told reporters on Monday. ...
Oman >>  10/21/2018 - Malaysia’s Petroliam Nasional Berhad (Petronas) said its subsidiary would buy a 10 percent stake in Oman’s Al Khazzan gas field, following a bidding e...

Mexico >>  10/19/2018 - Petrofac Limited has completed the sale of 49% of the Company's operations in Mexico to Perenco (Oil & Gas) International Limited, following approval ...
New Zealand >>  10/19/2018 - Melbana Energy Limited provides the following update on the divestment of its 30% interest in its non-core New Zealand Permit PEP51153 (“Permit”). ...

Egypt >>  10/18/2018 - SDX Energy Inc., the North Africa focused oil and gas company, announces that, further to the announcement made on 20 September 2018, discussions rega...
Norway >>  10/18/2018 - Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf (NCS) for...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


South Africa Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in South Africa >>

More News

 

Oil & Gas Companies in South Africa >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.