QATAR PETROLEUM MAKES FORAY INTO COTE D’IVOIRE
Qatar Petroleum entered into a farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire.
The two blocks cover an area of approximately 3,200 square kilometers, and present multi-target hydrocarbon prospects in water depths ranging from 1,000 to 2,000 meters, 35 kilometers from shore and about 100 kilometers from nearby Foxtrot, Espoir and Baobab fields.
H E Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum said, “The acquisition of working interests in these two blocks marks an important addition to QP’s upstream portfolio in Africa. Africa’s offshore is a key target area for QP’s international growth strategy.”
“We are pleased to enter into this promising exploration opportunity with our long-term partner, Total, an experienced operator with historical presence in Côte d’Ivoire. We would like to thank the Ivorian authorities, and our partners in these blocks for their support,” His Excellency Minister Al-Kaabi concluded.
The farm-in agreement is subject to customary approvals by Côte d’Ivoire’s government.
QP has previously entered into three farm-in agreements to acquire about 30% of Total’s participating interest in blocks 15, 33 and 34 located in the Campeche basin, offshore Mexico.
Qatar Petroleum (QP) is a state owned petroleum company of Qatar based in Doha. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. The operations and activities of the company and its affiliates are conducted at various onshore locations, including Doha, Dukhan and the Mesaieed and Ras Laffan Industrial Cities, as well as offshore areas, including Halul Island, offshore production stations, drilling platforms and the North Field
(Source: Qatar Petroleum)
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