The block, with a drill ready opportunity covers an area of approximately 3600 km2, and is expected to be drilled as part of a 2020/2021 drilling programme.
Commenting on the agreement, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said: “Continuing on our journey to build a world-class exploration portfolio, by securing interests in promising exploration blocks in diverse geographies, we are pleased to be part of this exciting ultra-deep water opportunity in Angola, a leading oil and gas producing country.”
Al-Kaabi added: “This is our first opportunity in Angola with both Sonangol, and our long-term partner, Total, an experienced operator with significant in-country presence. We would like to thank the Angolan authorities, and our partners in this block for their support. We look forward to a longstanding and fruitful partnership.”
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 as follows: Total (40% - Operator), Sonangol (30%), and Qatar Petroleum (30%).
Block 48 is located in the ultra-deepwaters offshore Lower Congo Basin, approximately 400 km northwest of Luanda and 200 km west of Soyo onshore facilities. The average water depth in the block is around 2500 m.