TotalEnergies brings QP on board at S African blocks
TotalEnergies has agreed to transfer interests to Qatar Petroleum (QP) in three blocks in South Africa's offshore zone, where the pair have made two recent gas discoveries, QP announced on July 4.
Under their agreement, QP will take a 25% position at the South Outenique block, a 30% interest in the DWOB block and a 29.2% stake in the OBD block. TotalEnergies will remain operator of all three projects.
South Outinqua is 49,000 km2 in size, covering water depths ranging from 200 to 5,000 m. It lies directly south of the 11B/12B block, where TotalEnergies, QP and their partners discovered the Brulpadda and Luiperd fields in 2019 and 2020 respectively. TotalEnergies is retaining the remaining 75% interest in South Outinqua.
TotalEnergies is also keeping 50% and 48.6% interests in the DWOB and OBD blocks, which cover a combined 53,000 km2 in waters between 1,000 and 4,200 m deep in the Orange basin south of Namibian blocks 2912 and 2913B, in which QP already has interests. They are also close to Namibian blocks 2913A and 2914B, which QP is set to gain stakes in as well from Shell pending customary approvals.
"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 QP's ambitious growth strategy," QP CEO and Qatari energy minister Saad Sherida Al-Kaabi commented.
TotalEnergies works with QP off the coast of a number of countries in Africa and Latin America. It is also vying for a role in QP's North Field East (NFE) LNG project, where a final investment decision was taken in February.