Qatar Petroleum entered into a farm-in agreement with Sonangol, the national oil company of Angola, and Total to acquire a 30% participating interest in Block 48, located in the ultra-deep waters offshore Angola.

The block, with a drill ready opportunity covers an area of approximately 3,600 square kilometers, and is expected to be drilled as part of a 2020/2021 drilling program.

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, “Continuing on our journey to build a world-class exploration portfolio, by securing interests in promising exploration blocks in diverse geographies, we are pleased to be part of this exciting ultra-deep water opportunity in Angola, a leading oil and gas producing country.”

His Excellency Minister Al-Kaabi added, “This is our first opportunity in Angola with both Sonangol, and our long-term partner, Total, an experienced operator with significant in-country presence. We would like to thank the Angolan authorities, and our partners in this block for their support. We look forward to a longstanding and fruitful partnership.”

The farm-in agreement is subject to customary approvals by the Angolan Government. Upon receipt of such approvals, the parties respective interests in Block 48 will be as follows: Total (40% - Operator), Sonangol (30%), and Qatar Petroleum (30%).

Block 48 is located in the ultra-deep waters offshore Lower Congo Basin, approximately 400 km northwest of Luanda and 200 km West of Soyo onshore facilities. The average water depth in the block is around 2,500 meters.

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 Sonangol

Sonangol — Sociedade Nacional de Combustíveis de Angola, E.P. — is the state-owned oil company, responsible for the management of oil and natural gas exploration on the subsoil an​d continental shelf of Angola, and is responsible for the exploration, production, manufacturing, transportation and marketing of hydrocarbons in Angola. We operate in an efficient safe and transparent manner, and are committed to environmental protection. Our purpose is to promote the harmonious development of the country and reinforce sustainable use of hydrocarbon resources.

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.