QatarEnergy extends oil hunt in Orange Basin
Targets more wells
State-owned QatarEnergies have partnered with oil majors Chevron, TotalEnergies and Shell to ensure a significant footprint in the exploration hotspot offshore Namibia.
QatarEnergy this weekend inked an agreement with Harmattan Energy Limited (HEL), an indirect subsidiary of Chevron Corporation, to acquire a stake in another block in the Orange Basin offshore Namibia.The latest development follows on the heels of QatarEnergy’s announcement late last month that it has entered into an agreement with TotalEnergies to secure bigger stakes in two other blocks in the Orange Basin.
Commenting on its latest venture, the president and CEO of state-owned QatarEnergy, Saad Sherida Al-Kaabi, on Sunday said: “This agreement demonstrates our commitment to continue expanding our upstream footprint in Namibia, and the strengthening of our partnership with our valued partner Chevron.”
Al-Kaabi is also Qatar’s minister of state for energy affairs.
Drilling
“Following successful drilling operations in our other acreage in Namibia, we look forward to soon begin drilling the first exploration well on this block,” Al-Kaabi said in a statement.
Pursuant to the agreement, QatarEnergy will acquire a 27.5% interest in the petroleum exploration license and petroleum agreement for Block 2813B (PEL-90) in the Orange Basin.
Operator HEL will retain a 52.50% interest.
The other partners on the block are Trago Energy Limited and the National Petroleum Corporation of Namibia (Namcor), each holding a 10% interest.
Block 2813B lies about 200 km offshore Namibia and approximately 70 km north of QatarEnergy’s Venus discovery.
The license covers an area of 5 433 km², in water depth of 2 400 to 3 300 metres.
TotalEnergies
In the last week of November, QatarEnergy clinched an agreement with TotalEnergies to acquire an additional 5.25% interest in block 2913B (PEL-56) and an additional 4.695% interest in block 2912 (PEL-91), both also located in the Orange Basin.
Subject to customary approvals, QatarEnergy’s participating interests in both licenses will increase to 35.25% in block 2913B and 33.025% in block 2912.
Operator TotalEnergies will hold 45.25% in block 2913B and 42.475% in block 2912.
The other partners in the two licenses are Impact Oil & Gas, holding 9.5% in each of the two licenses and Namcor, holding 10% in block 2913B and 15% in block 2912.
At the time, Al-Kaabi said the agreement marked “another important step in working collaboratively with our partners towards the development of the Venus discovery located on block 2913B”.
Blocks 2913B and 2912 are located about 300 km offshore Namibia, in water depths ranging from 2 600 to 3 800 metres.
Shell
QatarEnergy and Shell have been partners in the Orange Basin since 2021, each with a working interest of 45% in PEL-39. Namcor holds the remaining 10%.
Three light oil discoveries have been made in the Jonker prospect.