Qatar Petroleum has recently entered into an agreement with Eni and Total to acquire a 25% participating interest (13.75% from Eni and 11.25% from Total) in blocks L11A, L11B and L12 located offshore Kenya. The agreement is subject to customary regulatory approvals by the government of Kenya.
Following such approval, the partners comprising the consortium will consist of affiliates of each of Eni (the operator) with a 41.25% participating interest, Total with a 33.75% participating interest, and Qatar Petroleum with a 25% participating interest.
HE Saad Sherida Al Kaabi, Minister of State for Energy Affairs, and President / CEO of Qatar Petroleum, said they are pleased to sign the agreement to participate in exploring these frontier offshore areas in Kenya and to further strengthen their presence in Africa.
We hope that the exploration efforts are successful, and we look forward to collaborating with our valuable partners Eni and Total, and the government of Kenya in these blocks. I would like to take this opportunity to thank the Kenyan authorities and our partners for their ongoing and continued support.’
The three offshore block (L11A, L11B and L12) are situated in what is considered to be a frontier and largely unexplored area in the Lamu basin east of Kenya and have a total area of approximately 15,000 square kilometres, with water depths ranging from about 1000 metres to 3,000 metres.
In line with its growth strategy, this opportunity strengthens Qatar Petroleum’s position in the exploration of frontier basins with significant hydrocarbon resource potential.
For updates and more information, visit qp.com.qa.