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.
