Qatar: Oil Expansion Qatar Petroleum Signs Agreement with Total for Exploration in South Africa
With this agreement, Qatar intends to expand and reinforce Qatar’s leading position in the field of energy across the globe.
Qatar – Qatar Petroleum has 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 (CNR) will hold 20 %, and Main Street 1549 Proprietary (Main Street) will have a 10 % participating interest.
Block 11B/12B is located in what is considered to be a frontier area in the Outeniqua Basin, approximately 175 km off the southern coast of South Africa. It covers an area of approximately 19,000 square km with water depths ranging from 200 to 1,800 meters.