Qatar Petroleum is becoming a key player in global deepwater exploration, albeit one focused on minority stakes. The Qatar state firm announced on 6 April that it had entered into an agreement with Shell to become a partner on two exploration blocks offshore Namibia in southwestern Africa.
QP will take 45% “in the PEL 39 exploration license pertaining to Block 2913A and Block 2914B.” Shell will remain operator with 45% with National Petroleum Corporation of Namibia (NAMCOR) holding the final 10%. The blocks are in ultra-deep water at depths of around 2,500ms and cover an area of approximately 12,300km². (CONTINUED - 366 WORDS)
