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
The Coca-Cola Company (KO) reported that its third-quarter comparable earnings per share declined 2 percent year-on-year to $0.56. Comparable EPS performance included the impact from a 6-point currency headwind. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per... The United Auto Workers at General Motors will remain on strike until ratification of a new four-year labor contract, the union said on Thursday. GM's proposed agreement includes an $11,000 ratification bonus to workers, wage increases of 4 percent throughout the four-year contract, no increases in health care costs; and a path to permanent worker status within four years or less. Streaming giant Netflix Inc. (NFLX) announced that it secured rights to Jeff Smith's critically acclaimed comic book series BONE. Netflix said it plans to develop an animated kids series based on BONE that follows the iconic Bone cousins on an adventure through a vast, uncharted desert and into a...
Follow RTT
>