Qatar Petroleum has entered into an settlement with Shell to develop into a companion in two exploration blocks offshore Namibia
Below the phrases of the settlement, which is topic to customary approvals, Qatar Petroleum will maintain a forty five% taking part curiosity within the PEL 39 exploration license pertaining to Block 2913A and Block 2914B, whereas Shell (the Operator) will maintain a forty five% curiosity, and the Nationwide Petroleum Company of Namibia (NAMCOR) will maintain the remaining 10% curiosity.
HE Saad Sherida Al-Kaabi, minister of state for vitality affairs, president and CEO of Qatar Petroleum, mentioned, “With this second exploration and manufacturing sharing settlement in Namibia, we’re happy to increase our exploration footprint within the nation, and to additional strengthen our presence within the southern Africa area.”
“Engaged on these promising and potential blocks with our valued long-term companion, Shell, is one other step in our stride in the direction of reaching our worldwide development technique. We look ahead to working along with the Namibian authorities, NAMCOR and Shell on these blocks.”
That is Qatar Petroleum’s second exploration license in Namibia. In August 2019, Qatar Petroleum entered into agreements for taking part in blocks 2913B and 2912 offshore Namibia.