Qatar Petroleum enters two offshore exploration blocks in Namibia
Qatar Petroleum entered into an agreement with Shell to become a partner in two exploration blocks offshore the Republic of Namibia, according to the company's release.
Under the terms of the agreement, which is subject to customary approvals, Qatar Petroleum will hold a 45% participating interest in the PEL 39 exploration license pertaining to Block 2913A and Block 2914B, while Shell will hold a 45% interest, and the National Petroleum Corporation of Namibia (NAMCOR) will hold the remaining 10% interest.
This is Qatar Petroleum’s second exploration license in Namibia. In August 2019, Qatar Petroleum entered into agreements for participating in blocks 2913B and 2912 offshore Namibia.
The PEL 39 blocks are located offshore Namibia in ultra-deep-water depths of about 2,500 m, covering an area of approximately 12,300 km2.
