Total: partnership with Qatar Petroleum in South Africa
(CercleFinance.com) - Qatar Petroleum will join Total for the exploitation of 11B/12B Block off the coast of South Africa.
Total has signed an agreement to transfer to Qatar Petroleum a 25% interest in this exploration license.
The Block 11B/12B is located in the Outeniqua basin, approximately 175 kilometres off the coast of South Africa, and covers an area of 19,000 square kilometres with water depths of 200 metres to 1,800 metres.
The new partnership structure will be: Total (operator, 45%), Qatar Petroleum (25%), CNR International (20%) and Main Street (10%).
“This transaction enhances the partnership on Block 11B/12B in preparation for the high potential exploration well scheduled to be drilled on the block at the end of 2018,” commented Arnaud Breuillac, President, Exploration & Production at Total.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Total has signed an agreement to transfer to Qatar Petroleum a 25% interest in this exploration license.
The Block 11B/12B is located in the Outeniqua basin, approximately 175 kilometres off the coast of South Africa, and covers an area of 19,000 square kilometres with water depths of 200 metres to 1,800 metres.
The new partnership structure will be: Total (operator, 45%), Qatar Petroleum (25%), CNR International (20%) and Main Street (10%).
“This transaction enhances the partnership on Block 11B/12B in preparation for the high potential exploration well scheduled to be drilled on the block at the end of 2018,” commented Arnaud Breuillac, President, Exploration & Production at Total.
Copyright (c) 2018 CercleFinance.com. All rights reserved.