Qatar Petroleum signed agreements with Total for a share of exploration and production rights in two blocks offshore the Republic of Namibia, the company said on Wednesday.
Qatar Petroleum will hold a 30% participating interest in Block 2913B, while Total will holding a 40% participating interest, according to the company's statement.
Other partners include London-based Impact Oil and Gas Company with a 20% participating interest, and National Petroleum Corporation of Namibia (NAMCOR) with a 10% participating interest, the company said.
Under the agreement for Block 2912, Total will be the operator with a 37.78% participating share and Qatar Petroleum will hold a 28.33% participating interest. The remaining share interest belongs to Impact Oil and Gas Company and NAMCOR.
"We are pleased to expand our global exploration activities into Namibia, which further strengthens our presence in Africa. Working on these prospective frontier blocks with our valuable long-term partner, Total, will give another boost to our efforts towards implementing our international growth strategy," the Minister of State for Energy Affairs, and President & CEO of Qatar Petroleum Saad Sherida Al-Kaabi said.
"We look forward to working together with the Namibian Government and with our partners in these blocks to achieve positive results that meet the interests of all parties," he added.
Drilling of a first exploration well is scheduled in the first half of next year.
Block 2913B is 2,600-3,300 meters deep covering an area of about 8,215 square kilometers, while Block 2912 is 3,300-3,800 meters deep with an area of about 7,813 square kilometers.
By Busranur Begcecanli