Qatar Petroleum, Total Partner Up Offshore Guyana

Qatar Petroleum is further expanding its international reach as it has signed a deal with Total for a share of rights in two blocks offshore Guyana.

The Qatari national oil and gas firm will take hold of 40% of Total’s existing 25% participating interest in the Tullow-operated Orinduik block. Tullow Oil owns a 60% participating interest and EcoAtlantic with a 15% interest in the block.

Also under the farm-in deal, Qatar Petroleum will take 40% of Total’s existing 25% participating interest in the neighboring Kanuku block. Repsol is the operator of the Kanuku block with a 37.5% stake, with Tullow Oil holding the remaining 37.5% interest.

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.

“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,” Saad Sherida Al-Kaabi, QP CEO said.

The Orinduik block sits 120 kilometers offshore Guyana and has a total area of about 1,800 square kilometers, 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 square kilometers, with water depths ranging from 70 to 800 meters.

Al-Kaabi 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.”

Qatar Petroleum is increasing its overseas reach, as the company just last week signed agreements with Eni and Total to acquire a 25 percent stake in three blocks in the frontier areas offshore Kenya.

The company has in the past years acquired rights in the acreage offshore South Africa, Mexico, Morocco, Cyprus, Mozambique, and Oman as well, with partners being Eni, Total, and ExxonMobil.

Source: offshoreenergytoday.com