QP will obtain a share of exploration and production rights in two offshore Guyana blocks. Qatar Petroleum (QP) reported Monday that it has signed an agreement with Total S.A. to obtain a share of exploration and production rights in two offshore Guyana blocks.
The agreement, subject to regulatory approvals, would give QP 40 percent of Total’s existing 25-percent interests in the Orinduik and neighboring Kanuku blocks, QP stated. Tullow Oil operates Orinduik and holds a 60-percent participating interest in that block, which is also owned by EcoAtlantic (15 percent). Tullow and Repsol (operator) each own a 37.5-percent interest in Kanuku.
The 695-square-mile (1,800-square-kilometer) Orinduik block is located 75 miles (120 kilometers) offshore Guyana and boasts water depths ranging from 230 to 4,593 feet (70 to 1,400) meters, QP stated. The state-owned firm added that Kanuku – located 62 miles (100 kilometers) offshore – encompasses approximately 2,007 square miles (5,200 square kilometers) with 230- to 2,625-foot (70- to 800-meter) water depths.
“We are pleased to expand our global exploration footprint into Guyana together with our valuable, long-term partner, Total, in these offshore blocks in this prospective basin,” Saad Sherida Al-Kaabi, QP’s president and CEO and Qatar’s Minister of State for Energy Affairs, said in a company statement.
QP also noted that three exploration wells are planned in the blocks this year: two in Orinduik, including the Jethro well that is currently being drilled, and one in Kanuku. As Rigzone reported earlier this month , Tullow, Total and EcoAtlantic launched the two-well Orinduik program with the July 4 spudding of the Jethro-Lobe prospect.
“We hope that the exploration efforts are successful,” stated Al-Kaabi. “I would like to take this opportunity to thank our partners and the government of Guyana for their collaboration in this effort, and we look forward to working together in these blocks.”
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
