Qatar Petroleum (QP) recently entered into an agreement with French company Total 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 10% participating interest.
Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum said the agreement is another step in the expansion and reinforcement of Qatar’s leading position in the field of energy across the globe.
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 and Main Street – in this project. I also would like to take this opportunity to thank the South African authorities and our exploration partners for their support.’
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 kilometres with water depths ranging from 200 to 1,800 metres.
Collaboration with Sierra Leone
Meanwhile, Dr Mohammed bin Saleh Al-Sada, Qatar Minister of Energy and Industry, met with Henry Olufemi Macauley, Minister of Energy of the Republic of Sierra Leone. The official recently visited the country as part of a delegation headed by Sierra Leone President Ernest Bai Koroma.
Samura Kamara, Sierra Leone Minister of Foreign Affairs, and senior officials from Kahramaa, Nebras and Qatar Mining companies from Qatar also attended the meeting. The two sides discussed areas of cooperation between the two countries. Minister Olufemi briefed Dr Al-Sada on conditions of the energy sector in his country, including future plans to generate power using natural gas and renewables.
Qatari officials from Nebras and Qatar Mining companies briefed the guests on the companies’ strategies on investment overseas and their willingness to explore investment in Africa in general and Sierra Leone in particular.
Both sides agreed to exchange information on investment opportunities in Sierra Leone in the fields of energy and mining. They also discussed the exchange of technical teams in the future.
For more information about Qatar Petroleum, visit their website at qp.com.qa.
