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%.