PARIS, FRANCE: Total SA has signed an agreement to sell a 25 percent interest in the exploration block 11B/12B, offshore South Africa, to Qatar Petroleum.
The block 11B/12B is located in the Outeniqua Basin, around 175 kilometres off the southern coast of South Africa, and covers an area of 19,000 square kilometres with water depths ranging from 200 to 1,800 meters. Upon receiving all regulatory approvals the new partnership structure will be as follows: Total (operator, 45 percent), Qatar Petroleum (25 percent), CNR international (20 percent) and Main Street (10 percent).
“This transaction enhances the partnership on Block 11B/12B in preparation for the high potential exploration well scheduled to be drilled on the block at the end of 2018. Total is delighted to broaden its long-standing relationship with Qatar Petroleum and combine efforts to explore this promising region offshore South Africa,” said Arnaud Breuillac, president, exploration & production in Total.
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