Qatar Petroleum entered right into a farm-in settlement with Sonangol, the nationwide oil firm of Angola, and Total to amass a 30% collaborating curiosity in Block 48, positioned within the ultra-deep waters offshore Angola.
The block, with a drill prepared alternative covers an space of roughly three,600 sq. kilometers, and is predicted to be drilled as a part of a 2020/2021 drilling program.
Commenting on the settlement, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, mentioned, “Continuing on our journey to construct a world-class exploration portfolio, by securing pursuits in promising exploration blocks in various geographies, we’re happy to be a part of this thrilling ultra-deep water alternative in Angola, a number one oil and fuel producing nation.”
His Excellency Minister Al-Kaabi added, “This is our first alternative in Angola with each Sonangol, and our long-term accomplice, Total, an skilled operator with important in-country presence. We want to thank the Angolan authorities, and our companions on this block for his or her help. We stay up for a longstanding and fruitful partnership.”
The farm-in settlement is topic to customary approvals by the Angolan Government. Upon receipt of such approvals, the events respective pursuits in Block 48 shall be as follows: Total (40% – Operator), Sonangol (30%), and Qatar Petroleum (30%).
Block 48 is positioned within the ultra-deep waters offshore Lower Congo Basin, roughly 400 km northwest of Luanda and 200 km West of Soyo onshore services. The common water depth within the block is round 2,500 meters.
(Source and picture: Qatar Petroleum)
The publish QATAR PETROLEUM TO EXPLORE THE ULTRA-DEEPWATERS OFFSHORE ANGOLA appeared first on Energy Global News.