QP farming into ultra-deep-water block off Angola

Qatar Petroleum has entered into a farm-in agreement with Sonangol and Total to acquire a 30% participating interest in block 48 offshore Angola.

Located in the ultra-deep-water Lower Congo basin, block 48 is about 400 km (249 miles) north-west of Luanda and 200 km (124 miles) west of Soyo onshore facilities.

The average water depth in the block is about 2,500 metres (8,202 feet).

The block covers an area of about 3,600 square kilometres (1,390 square miles) and is expected to be drilled in 2020 or 2021.

The farm-in agreement is subject to customary approvals by the Angolan government. Upon receipt of such approvals, the parties’ respective interests in block 48 will be: Total (40% – operator), Sonangol, (30%), and Qatar Petroleum (30%).

Source: Offshore Magazine