Qatar Petroleum buys interest in three blocks off South Africa

State-owned Qatar Petroleum has entered into agreements with TotalEnergies to acquire working interests in three offshore exploration blocks in South Africa.

Qatar Petroleum said that, under the terms of the agreements, it will hold a 25 per cent participating interest in the South Outeniqua block, a 30 per cent participating interest in the DWOB block, and a 29.17 per cent participating interest in the OBD block.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said: “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.

“I would like to take this opportunity to thank the South African authorities and partners for their valuable support and cooperation”.

The South Outeniqua block covers an area of approximately 49,000 square kilometres in water depths ranging between 200 and 5,000 metres. TotalEnergies is the operator and holds the remaining participating interest in the block.

It is located directly south of the 11B/12B block where TotalEnergies, Qatar Petroleum, Canadian Natural Resources Limited, and Main Street Limited have announced significant gas condensate discoveries in the Brulpadda and Luiperd prospects.

The DWOB and OBD blocks cover a combined area of about 53,000 square kilometres in water depths ranging between 1,000 and 4,200 meters and are in the Orange Basin directly south of Namibian blocks 2912 and 2913B in which Qatar Petroleum already holds participating interests, and near Blocks 2913A and 2914B, into which Qatar Petroleum’s entry was recently announced.

The other JV partners in the DWOB block are TotalEnergies as the operator with a 50 per cent participating interest, and Sezigyn with a 20 per cent participating interest.

In the OBD block, the JV partners are TotalEnergies as operator with a 48.61 per cent participating interest and Impact with a 22.22 per cent participating interest.