Qatar Petroleum joins Shell in two blocks offshore Namibia

State-owned LNG giant Qatar Petroleum said Tuesday it entered into an agreement with Shell to become a partner in two exploration blocks offshore Namibia.

Under the deal, QP would hold a 45% participating interest in the PEL 39 exploration license pertaining to Block 2913A and Block 2914B, it said in a statement.

Shell, the operator, will hold a 45% interest, and the National Petroleum Corporation of Namibia (NAMCOR) will hold the remaining 10% interest.

The PEL 39 blocks are located offshore Namibia in ultra-deep-water depths of about 2,500 m, covering an area of about 12,300 km2, according to QP.

In addition, this marks QP’s second exploration license in Namibia. In August 2019, the firm entered into agreements for participating in blocks 2913B and 2912 offshore Namibia.

Qatar’s energy minister and chief executive of QP, Saad Sherida Al-Kaabi, said the move expands the company’s exploration footprint in the country and further strengthens its presence in the southern Africa region.

“Working on these promising and prospective blocks with our valued long-term partner, Shell, is another step in our stride towards achieving our international growth strategy,” he said.

The deal is subject to customary approvals.

- Advertisements -

Most Popular

Interview: Maria Angelicoussis and Sveinung Stohle talk LNG fleet expansion plans

Greek shipping giant Angelicoussis has secured long-term charters for almost all of the newbuild LNG carriers it has ordered...

Cheniere, OMV seal long-term LNG supply deal

US LNG exporting giant Cheniere has signed a long-term deal with Austrian energy firm OMV to supply the latter...

Commonwealth LNG inks carbon capture and storage pact

Commonwealth LNG has entered into a deal with OnStream CO2 for a carbon capture and storage solution at its...

More News Like This

Shell hits gas offshore Egypt

LNG giant Shell has discovered natural gas in Egypt's North East El-Amriya block, located in the Mediterranean Sea. Shell's unit...

Shell, BP wrap up Browse stake sale

A unit of LNG giant Shell has completed its previously announced deal with BP to sell a 27 percent...

Seapeak, Shell extend LNG carrier charter deal

Seapeak, previously known as Teekay LNG Partners, has extended a charter deal for one of its vessels with a...

GTT scores contract from HD Hyundai Heavy for 17 LNG carriers

French LNG containment giant GTT has won a large order from South Korea’s HD Hyundai Heavy Industries to design...