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Qatar Petroleum signs deal to enter three exploration blocks in Kenya.

Qatar Petroleum signs deal to enter three exploration blocks in Kenya

*QP has entered into an agreement with Eni and Total to acquire a 25% participating interest in blocks L11A, L11B and L12 located offshore Kenya

Qatar Petroleum has 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 the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, also President & CEO of Qatar Petroleum said, "We are pleased to sign this agreement to participate in exploring these frontier offshore areas in Kenya and to further strengthen our 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," al-Kaabi added.

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.

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Publication:Gulf Times (Doha, Qatar)
Geographic Code:7QATA
Date:Jul 23, 2019
Words:306
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