Total, Qatar Petroleum enter deal for two exploration blocks in Côte d'Ivoire

noaa yEyY4atYh8w unsplashQatar Petroleum has entered into a farm-in agreement with Total to acquire a 45 per cent stake in blocks CI-705 and CI-706 in the Ivorian-Tano Basin, offshore Côte d'Ivoire

The two blocks cover an area of about 3,200 sq km and present multi-target hydrocarbon prospects in water depths ranging from 1,000 to 2,000 m, 35 km from shore and about 100 km from nearby fields of Foxtrot, Espoir and Baobab.

Saad Sherida Al-Kaabi, the minister of state for energy affairs, 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,” the minister concluded.

The farm-in agreement is subject to customary approvals by the Côte d'Ivoire government.

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