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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.

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