Oil and Gas News | Oil and Gas Jobs | Oil and Gas Engineering
The Oil & Gas Hub
  • Main
  • News
  • Photo
  • Video
  • Oilfield Jobs
  • Learning Section
  • Oil & Gas Calculator

Qatar Petroleum buys into offshore block in South Africa

2018.02.05
1 826

Qatar Petroleum entered into an agreement with Total of France to acquire a 25% participating interest in the Exploration Block 11B/12B, offshore South Africa. 

Once the agreement receives regulatory approvals by the South African Government, Qatar Petroleum will have a 25% participating interest in the block, while Total (the Operator) will have 45%, Canadian Natural Resources Limited (CNR) will hold 20%, and Main Street 1549 Proprietary Limited (Main Street) will have a 10% participating interest.

Commenting on this occasion, Mr. Saad Sherida Al-Kaabi, the President & CEO of Qatar Petroleum said: “This agreement is another step by Qatar Petroleum that embodies the vision of His Highness the Emir of the State of Qatar in expanding and reinforcing Qatar’s leading position in the field of energy across the globe. We are pleased to sign this agreement with our long-time partner Total, and to participate in exploration activities in this frontier block offshore South Africa.”

“We are hopeful that the exploration efforts, including the drilling of an exploration well later this year, will be successful, and we look forward to collaborating with our partners Total, CNR, Main Street in this project. I would like to take this opportunity to thank the South African authorities and our exploration partners for their support,” Mr. Al-Kaabi concluded.

Block 11B/12B is located in what is considered to be a frontier area in the Outeniqua Basin, approximately 175 kilometres off the southern coast of South Africa. It covers an area of approximately 19,000 square kilometers with water depths ranging from 200 to 1,800 metres.​ 

 

Related Posts

Weekly Energy Digest - May 20th,2025
2025.05.21
560
Weekly Energy Digest - May 20th,2025
The US-China tariff agreement gave a boost to oil prices this week, which was somewhat dampened late…
Weekly Energy Digest - May 13th,2025
2025.05.14
716
Weekly Energy Digest - May 13th,2025
After a week of volatility, oil prices settled higher, as trade tensions between top oil consumers C…
Weekly Energy Digest - May 6th,2025
2025.05.06
844
Weekly Energy Digest - May 6th,2025
Oil benchmarks declined for most of the week, with fears of further OPEC+ output cut rollbacks compo…
Weekly Energy Digest - April 30th,2025
2025.04.30
865
Weekly Energy Digest - April 30th,2025
Oil prices fell for the week on the back of OPEC+ members’ discussion about an additional supp…
Market quotes are powered by TradingView.com
© Oil and Gas News | Oil and Gas Jobs | Oil and Gas Engineering, 2025
ADVERTISE  | Contact Us  | Privacy Policy  
Made in studio Zuber