Qatar Petroleum Enters Angolan Offshore
Qatar Petroleum has entered into a farm-in agreement with Angolan state-run Sonangol and Total to acquire a 30% participating interest in Block 48, located in the ultra-deep waters offshore Angola, it said on August 18.
The block covers an area of approximately 3,600 km2, and is expected to be drilled as part of a 2020-2021 drilling programme. It is located in the ultra-deep waters offshore Lower Congo Basin, approximately 400 km northwest of Luanda and 200 km west of Soyo gas liquefaction plant.
“Continuing on our journey to build a world-class exploration portfolio, by securing interests in promising exploration blocks in diverse geographies, we are pleased to be part of this exciting ultra-deep-water opportunity in Angola, a leading oil and gas producing country,” Qatar Petroleum CEO Saad Sherida Al-Kaabi, said.
The farm-in agreement is subject to customary approvals by the Angolan government. Upon receipt of such approvals Total will have a 40% interest as operator, Sonangol will own 30%, and Qatar Petroleum 30%.