Qatar Petroleum has acquired 40% of Total’s stake in the Orinduik and Kanuku blocks. This means that the Qatari company now owns 10% stake in each block.
These blocks offshore Guyana are close to the Stabroek block, where Exxon has had over a dozen discoveries.
This deal takes place under a farm-in deal with Total.
According to Offshore Energy Today the Qatar Petroleum CEO Saad Sherida Al-Kaabi said: “We hope that the exploration efforts are successful. I would like to take this opportunity to thank our partners and the government of Guyana for their collaboration in this effort, and we look forward to working together in these blocks.”
Al-Kaabi also that said: “We are pleased to expand our global exploration footprint into Guyana together with our valuable, long-term partner, Total, in these offshore blocks in this prospective basin.”
The Qatari company also has recently acquired acreage offshore South Africa, Mexico, Morocco, Cyprus, Mozambique, and Oman as well, with partners being Eni, Total, and ExxonMobil.