Qatar Petroleum has entered an agreement with Angolan national oil company Sonangol and Total to acquire a 30% participating interest in Block 48 offshore Angola, the company said in a statement Aug. 18.
The block, located in the ultradeep waters offshore Lower Congo Basin, is expected to be drilled as part of a 2020-2021 drilling program. It covers an area of about 3,600 sq km.
The farm-in agreement, whereby one party owns the acreage and another performs drilling in return for an interest, is subject to Angolan government approvals.
Once obtained, the parties respective shares in Block 48 will be as follows: Total, 40% (operator); Sonangol, 30%; and Qatar Petroleum, 30%.
Recommended Reading
Oil, Gas Completions Company Covenant Testing Rebrands as One X
2024-09-25 - Covenant Testing said the name change to One X is meant to bring awareness to the company’s “comprehensive, end-to-end solutions for our clients.”
Carbon Removal Company Equatic Appoints New CEO
2024-11-18 - Equatic appointed a new CEO in preparation to launch the world’s largest ocean-based carbon removal plant.
Investment Firm Elliot Calls for Honeywell Restructuring in Letter to Board
2024-11-13 - As Honeywell’s largest active investor, Elliott Investment Management’s letter to Honeywell International argued that Honeywell should split into two entities—Honeywell Aerospace and Honeywell Automation.
ConocoPhillips Adds Connors to Board
2024-09-05 - Nelda J. Connors will serve on the audit and finance committee and public policy and sustainability committee of ConocoPhillips’ board.
Post Oak-backed Quantent Closes Haynesville Deal in North Louisiana
2024-09-09 - Quantent Energy Partners’ initial Haynesville Shale acquisition comes as Post Oak Energy Capital closes an equity commitment for the E&P.