Qatar Petroleum entered into a farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Côte d'Ivoire.

The two blocks cover an area of approximately 3,200 square kilometers, and present multi-target hydrocarbon prospects in water depths ranging from 1,000 to 2,000 meters, 35 kilometers from shore and about 100 kilometers from nearby Foxtrot, Espoir and Baobab fields.

Commenting on the agreement, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum said, “The acquisition of working interests in these two blocks marks an important addition to QP’s upstream portfolio in Africa, and represents the first investment for QP in Côte d'Ivoire. Africa’s offshore is a key target area for QP’s international growth strategy.”

“We are pleased to enter into this promising exploration opportunity with our long-term partner, Total, an experienced operator with historical presence in Côte d'Ivoire. We would like to thank the Ivorian authorities, and our partners in these blocks for their support,” His Excellency Minister Al-Kaabi concluded.

The farm-in agreement is subject to customary approvals by the Côte d'Ivoire Government.

About Qatar Petroleum

Qatar Petroleum (QP) is a state-owned corporation established by Decree Law No. 10 in 1974. It is responsible for all phases of the oil and gas industry in the State of Qatar.
The principal activities of QP, its subsidiaries and joint ventures are the exploration, production, local and international sale of crude oil, natural gas and gas liquids, liquefied natural gas, refined products, synthetic fuels, petrochemicals, fuel additives, fertilizers, steel and aluminium.
The operations and activities of QP and its affiliates are conducted at various onshore locations, including Doha, Dukhan and the Mesaieed and Ras Laffan Industrial Cities, as well as offshore areas, including Halul Island, offshore production stations, drilling platforms and the North Field

About Total

Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.