Total has signed an agreement to transfer to Qatar Petroleum an 25% stake in the 11B / 12B exploration license off the coast of South Africa. The transaction remains subject to approval by the authorities.
The transaction strengthens the partnership on block 11B / 12B in anticipation of the drilling of a high-potential exploration well planned for the end of 2018.
Block 11B / 12B is located in the Outeniqua Basin, approximately 175 kilometers off the south coast of South Africa, and extends over an area of 19 000 square kilometers by 200 water depths at 1 800 meters.
After approval by the competent authorities, the new partnership structure will be: Total (operator, 45%), Qatar Petroleum (25%), CNR International (20%) and Main Street (10%).
It is worth remembering that Total and Qatar Petroleum have built strong partnerships over the years. In Qatar, Total holds a 20% stake in the upstream portion of Qatargas 1, as well as interests in Qatargas 1 (10%), Dolphin Energy (24,5%) and Qatargas 2 5 Train (16,7%).
In 2016, Total obtained a 30% stake in the Al-Shaheen dealership. Total is also a partner of Qatar Petroleum in the Laffan refineries 1 (10%) and Laffan 2 (25%) as well as the petrochemical plants of Qapco (20%) and Qatofin (48,6%).
Beyond Qatar, this strategic partnership expands cooperation between the two companies in Africa, where Qatar Petroleum International holds a 15% stake in Total E & P Congo.
