(Trade Arabia, 5.Aug.2019) — Qatar Petroleum has entered into an agreement with French oil major Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America.
Under the agreement, Qatar Petroleum will hold 40 per cent of Total’s existing 25 per cent participating interest in the Orinduik block. The other partners in this block are Tullow Oil (the Operator) with a 60 per cent participating interest and EcoAtlantic with a 15 per cent interest.
Also under the agreement, Qatar Petroleum will hold 40 per cent of Total’s existing 25 per cent participating interest in the neighbouring Kanuku block. The other partners in this block are Repsol (the Operator) with a 37.5 per cent participating interest and Tullow Oil with a 37.5 per cent interest.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and president & CEO of Qatar Petroleum, said: “We are pleased to expand our global exploration footprint into Guyana together with our valuable, long-term partner, Total, in these offshore blocks in this prospective basin.”
“We hope that the exploration efforts are successful. I would like to take this opportunity to thank our partners and the government of Guyana for their collaboration in this effort, and we look forward to working together in these blocks,” he added.
Three exploration wells are planned in these blocks this year: two on the Orinduik block, including the Jethro well which is currently being drilled, and one on the Kanuku block.
The Orinduik block is located 120 km offshore Guyana and has a total area of about 1,800 sq km, with water depths ranging from 70 to 1,400 meters.
The Kanuku block is located 100 km offshore Guyana and has a total area of about 5,200 sq km, with water depths ranging from 70 to 800 meters. – TradeArabia News Service