QatarEnergy secures interests offshore Angola

Interests in Blocks 8 and 22 offshore the Republic of Angola has been secured by QatarEnergy, alongside its partners Shell and Sonangol E&P

The energy major from Qatar signed an agreement with Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) to formalise the interests. 

Under the agreement, and subject to the relevant governmental approvals and final contractual arrangements, QatarEnergy will hold a 30% working interest, while Shell (the operator) will hold 50%, and Sonangol will hold 20% in the two offshore blocks.

Commenting on this occasion, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said, “QatarEnergy is pleased to sign this agreement and to establish a presence in the energy sector of the Republic of Angola as part of our international upstream exploration strategy and growth efforts. We would like to thank the Angolan authorities, and our partners Shell and Sonangol, for their cooperation and support. We look forward to a longstanding and fruitful partnership.”

The agreement was signed in the Angolan capital Luanda on the sidelines of the Angola Oil & Gas Conference. 

Previously, the government of Egypt approved for Qatar Energy a 40% stake in an offshore concession where Eni is the operator with 60% interest.

The concession is applicable for the North Rafah offshore block located in the Mediterranean Sea, off the northeastern coast of Egypt. It spans nearly 3,000 sq km in water depths of up to 450 meters.

“We are pleased with our new position in the North Rafah offshore block, which further strengthens our presence in Egypt and marks another important step in advancing our ambitious international exploration strategy,” said Al-Kaabi.

“We extend our thanks to the Ministry of Petroleum and Natural Mineral Resources in Egypt, and our partner Eni for their valued support and cooperation. We look forward to working together to achieve our exploration objectives,” he added.