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July 5, 2021

Qatar Petroleum to acquire TotalEnergies’ stakes in South African blocks

The firm will acquire interests in three prospective offshore blocks- South Outeniqua, DWOB and OBD.

By Archana Rani

Qatar Petroleum has signed agreements with TotalEnergies to acquire a stake in three offshore exploration blocks in South Africa.

The assets involved in the deal include the South Outeniqua block, DWOB block, and OBD block.

Under the deal, the state-owned firm will acquire a stake of 25% in the approximately 49,000km² South Outeniqua block, which situated in water depths ranging between 200m and 5,000m.

TotalEnergies-operated South Outeniqua block is located directly south of the 11B/12B block, where significant gas condensate discoveries have been made in the Brulpadda and Luiperd prospects.

Additionally, Qatar Petroleum agreed to acquire a 30% stake in the DWOB block, as well as a 29.17% interest in the OBD block.

The two blocks, which are also operated by TotalEnergies, cover a total area of around 53,000km² in water depths ranging between 1,000m and 4,200m.

TotalEnergies owns a 50% stake in the DWOB block while South African firm Sezigyn owns a 20% interest.

The French oil major holds a 48.61% interest in the OBD block while the remaining stake of 22.22% is held by Impact Oil & Gas.

These blocks are located in the Orange Basin directly south of Namibian blocks 2912 and 2913B and in close proximity to Blocks 2913A and 2914B.

Qatar Petroleum, which already owns an interest in 2912 and 2913B blocks, is due to close stake acquisition in the 2913A and 2914B licenses.

Qatar Petroleum president and CEO, and Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi said: “These acquisitions represent an excellent addition to our South African regional upstream portfolio, and build upon the positive progress following the recent drilling success in the 11B/12B block.”

Recently, the consortium comprising Qatar Petroleum, TotalEnergies and Staatsolie has been awarded the bid for Block 6 and Block 8 offshore Suriname.

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