Qatar Petroleum enters Angola block

Qatar Petroleum has entered into a farm-in deal with Sonangol and Total to buy a 30% participating interest in Block 48 offshore Angola.

The block, with a drill ready opportunity covers an area of about 3,600 square kilometers.

The partners plan to start drilling activities in the block as part of a 2020/2021 program, QP said on Tuesday.

Furthermore, the farm-in deal is subject to customary approvals by the Angolan government.

Following approvals, France-based Total will have a 40% operating stake in the block. Angolan state oil firm Sonangol and QP will own a 30% stake, each.

Block 48 is located in ultra-deep waters offshore Lower Congo Basin, some 400 km northwest of capital Luanda.

It is also located some 200 km west of Soyo onshore LNG plant where Total and Sonangnol both have stakes.

The 5.2 mtpa Angola LNG plant receives associated gas from the country’s producing offshore oil fields.

“Continuing on our journey to build a world-class exploration portfolio, by securing interests in promising exploration blocks in diverse geographies, we are pleased to be part of this exciting ultra-deep water opportunity in Angola, a leading oil and gas producing country,” said Saad Sherida Al-Kaabi, Qatari energy minister and CEO of QP.

“This is our first opportunity in Angola with both Sonangol, and our long-term partner, Total, an experienced operator with significant in-country presence,” he added.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Golden Pass LNG construction continues to advance

Energy giants QatarEnergy and ExxonMobil, along with their contractors, continue to advance construction on their massive Golden Pass LNG export facility in Texas.

TotalEnergies expands in Malaysia with Petronas deal

French energy giant and LNG player TotalEnergies has entered into a deal with Petronas to buy stakes in multiple blocks offshore Malaysia and one block offshore Indonesia.

QatarEnergy eyes major LNG trading expansion

State-owned LNG giant QatarEnergy aims to increase trading of non-Qatari physical LNG volumes to 30 to 40 million tons by 2030, according to Qatar’s energy minister and chief executive of QatarEneergy, Saad Sherida Al-Kaabi.

TotalEnergies seals Ksi Lisims LNG deal

French energy giant TotalEnergies has signed a 20-year deal with Ksi Lisims LNG to buy LNG from the latter's planned export project in Canada. In addition, TotalEnergies will acquire a 5 percent stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project.