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
In view of an expected growth in online shopping in the upcoming holiday season, Walmart announced its plan to hire more than 20,000 seasonal associates in its eCommerce fulfillment centers across the country. The company offers a starting hourly rate ranging from $15.75 up to $23.75 based on location, position and schedule. Tour operator TUI AG Tuesday said Summer 2020 and Winter 2020/21 capacity reduced as a result of recent volatile changes in travel restrictions amid Covid-19 pandemic. The company further announced the launch of Global Realignment Programme, aiming to permanently reduce overhead cost base by 30%. The program potentially impacts 8,000 roles. Home improvement retailer Lowe's Companies Inc. plans to install pickup lockers at all U.S. stores aiming to improve contactless delivery for online buyers amid worsening Covid-19 spread. The "Buy Online Pickup in Store" self-service lockers at its more than 1,700 stores will be available by the end of March 2021. In most major metro markets, the online pickup option will be installed by Thanksgiv
RELATED NEWS
Follow RTT