logo
Plus   Neg
Share
Email

Total, Qatar Petroleum Sign Partnership Deals In Namibia, Guyana, Kenya

French energy giant Total SA (TTA.L,TTFNF.PK,TOT) announced Tuesday that it has signed international partnership deals with Qatar Petroleum, under which Qatar Petroleum will farm into Total-held exploration acreage in Namibia, Guyana and Kenya.

The completion of the transactions are subject to approval by relevant authorities.

In Namibia, Total will transfer to Qatar Petroleum a 30 percent interest in Block 2913B and retain a 40 percent interest. Total will also transfer to Qatar Petroleum 28.33 percent in Block 2912 and retain 37.78 percent.

In Guyana, Qatar Petroleum will have 40 percent of the company holding Total's existing 25 percent interests in the Orinduik and Kanuku blocks, adjacent to the Stabroek Block in the prolific offshore Guyana Basin. Total will retain the remaining 60 percent of this company.

In Kenya, Total, with ENI, will transfer a combined 25 percent interest in Blocks L11A, L11B and L12 to Qatar Petroleum. Total's interest will be reduced to 33.75 percent from 45 percent.

Qatar Petroleum became a shareholder of Total E&P Congo in 2013, acquiring 15 percent of its share capital. In 2018, Total transferred a 25 percent working interest to Qatar Petroleum in the 11B/12B license it operates in South Africa.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. (AAPL) unveiled a 16-inch MacBook Pro laptop with a larger screen and redesigned keyboard. It is the first major update since the MacBook Pro line was revamped three years ago. The company has moved from a 15-inch screen to a higher-resolution 16-inch screen. Facebook has launched its new payment platform called 'Facebook Pay' in the U.S., joining other tech giants like Google and Apple that have their own payment platforms. The new service will be available across Facebook and its associated apps - Messenger, Instagram and WhatsApp, the social media giant said in a blog post. The payment service supports most major credit and debit cards. Amneal Pharmaceuticals, LLC recalled certain lots of heartburn medication Ranitidine in the form of tablets and syrup for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine, above levels established by the U.S. Food and Drug Administration or FDA. The generic and specialty pharma company is recalling 94 lots of Ranitidine tablets and Syrup.
Follow RTT
>