Qatar Petroleum to join Total in Ivorian-Tano basin, Côte d’Ivoire
Qatar Petroleum has signed a farm-in deal with French oil and gas giant Total to acquire a 45% participating stake from the latter in blocks CI-705 and CI-706 in the Ivorian-Tano basin in the waters of Côte d’Ivoire.
Spread over nearly 3,200 square kilometers, the two blocks are said to offer multi-target hydrocarbon prospects in water depths in the range of 1,000-2,000 meters.
The two blocks in the Ivorian-Tano basin are located 35 kilometers from shore and nearly 100 kilometers from nearby Foxtrot, Espoir, and Baobab fields.
Qatar Petroleum to join Total in Ivorian-Tano basin, Côte d’Ivoire. Image courtesy of Qatar Petroleum.
Saad Sherida Al-Kaabi – Qatar Minister of State for Energy Affairs and also 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.”
Qatar Petroleum said that the farm-in deal for the Ivorian-Tano basin blocks is subject to customary approvals from the government of Côte d’Ivoire.