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FinancialNews
27-08-19
Qatar to begin oil exploration in Namibia
(MENAFN) Qatar Petroleum (QP) was announced to be commencing oil exploration operations within two blocks in Namibia under contracts it signed with French oil and gas giant Total.
Following the agreements, QP now owns a participating interest of 30 percent in Block 2913B while Total owns a participating interest of 40 percent.
Under the deals, QP will also be holding a participating interest of 28.33 percent in Block 2912 with 37.78 percent going to Total.
"We are pleased to expand our global exploration activities into Namibia, which further strengthens our presence in Africa," stated President and CEO of QP Mr. Saad Sherida Al-Kaabi.
Al-Kaabi added: "working on these prospective frontier blocks with our valuable long-term partner, Total, will give another boost to our efforts towards implementing our international growth strategy."
MENAFN2708201900450000ID1098930252
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