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Oil & Gas

Qatar Petroleum Signs Deal to Enter Two Exploration Blocks in Guyana

QP_President_CEO

Qatar Petroleum has entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America.

Qatar Petroleum GuyanaUnder the agreement, which is subject to customary regulatory approvals by the government of Guyana, Qatar Petroleum will hold 40% of Total’s existing 25% participating interest in the Orinduik block. The other partners are Tullow Oil (the Operator) with a 60% participating interest and EcoAtlantic with a 15% interest.

Also under the agreement, Qatar Petroleum will hold 40% of Total’s existing 25% participating interest in the neighbouring Kanuku block. The other partners in this block are Repsol (the Operator) with a 37.5% participating interest and Tullow Oil with a 37.5% interest.

Qatar Petroleum President/CEO and Minister of State for Energy Affairs, HE Saad Sherida Al Kaabi, said they are pleased to expand Qatar Petroleum’s global exploration footprint into Guyana, with long-term partner Total.

We hope that the exploration efforts are successful. I would like to take this opportunity to thank our partners and the government of Guyana for their collaboration in this effort, and we look forward to working together in these blocks.’

Three exploration wells are planned in these blocks this year: two on the Orinduik block, including the Jethro well which is currently being drilled, and one on the Kanuku block. The Orinduik block is located 120 km offshore Guyana and has a total area of about 1,800 square kilometres, with water depths ranging from 70 to 1,400 metres. The Kanuku block is located 100 km offshore Guyana and has a total area of about 5,200 square kilometres, with water depths ranging from 70 to 800 metres.

For updates and more information about recent exploration deals signed by Qatar Petroleum, visit qp.com.qa.

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