Tribune News Network
doha
QatarEnergy has entered into an agreement with TotalEnergies to acquire an additional 5.25 percent interest in block 2913B (PEL 56) and an additional 4.695 percent interest in block 2912 (PEL 91), both located in the Orange Basin, offshore Namibia.
Subject to customary approvals, QatarEnergy’s participating interests in both licenses will increase to 35.25 percent in block 2913B and 33.025 percent in block 2912.
TotalEnergies (the operator) will hold 45.25 percent in block 2913B and 42.475 percent in block 2912. The other partners in the two licenses are Impact Oil & Gas, holding 9.5 percent in each of the two licenses and the National Petroleum Corporation of Namibia “NAMCOR”, holding 10 percent in block 2913B and 15 percent in block 2912.
Commenting on this occasion, Minister of State for Energy Affairs and QatarEnergy President and CEO His Excellency Saad Sherida Al Kaabi said, “We are pleased to expand QatarEnergy’s footprint in Namibia’s upstream sector.
This agreement marks another important step in working collaboratively with our partners towards the development of the Venus discovery located on block 2913B.”
Al Kaabi said, “I would like to take this opportunity to thank the Namibian authorities and our partners for their support and we look forward to delivering on our exploration and potential development programme.”
Blocks 2913B and 2912 are located about 300 kilometers offshore Namibia, in water depths ranging from 2600 to 3800 meters.
