Qatar’s state-owned petroleum company, Qatar Petroleum, has agreed with Shell to become a partner in two (2) exploration blocks offshore the Republic of Namibia, subject to customary approvals.
Per the terms of the agreement, Qatar Petroleum is to hold a 45% participating interest in the PEL 39 exploration license for Block 2913A and Block 2914. The blocks are located offshore Namibia in ultra-deep-water depths of about 2,500 metres, covering an area of approximately 12,300 square kilometres.
Shell will hold a 45% interest as the operator while the National Petroleum Corporation of Namibia (NAMCOR) will hold the remaining 10% interest. Between 2014 and 2019, Shell completed three seismic surveys of PEL 39, to identify geological structures below the seabed which might contain oil or gas.
The Minister of State for Energy Affairs, President and Chief Executive Officer of Qatar Petroleum, Saad Sherida Al-Kaabi, said: “With this second exploration and production sharing agreement in Namibia, we are pleased to expand our exploration footprint in the country and to further strengthen our presence in the southern Africa region.”
“Working on these promising and prospective blocks with our valued long-term partner Shell is another step in our stride towards achieving our international growth strategy. We look forward to working together with the Namibian Government, NAMCOR, and Shell on these blocks.”
This license is Qatar Petroleum’s second exploration license in Namibia. In August 2019, Qatar Petroleum agreed with French Group, Total, for participating in blocks 2913B and 2912 offshore Namibia.
ABOUT QATAR PETROLEUM
Qatar Petroleum is a state-owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage.