Qatar Petroleum (QP) has signed an agreement with Eni and Total to acquire a 25 percent participating interest in exploration blocks in Lamu Basin, east of Kenya, the company said in a statement yesterday.

The agreement is subject to customary regulatory approvals by the government of Kenya.

Once approved, the partners comprising the consortium will consist of affiliates of each of Eni (the operator) with a 41.25 percent participating interest, Total with a 33.75 percent participating interest, and Qatar Petroleum with a 25 percent participating interest.

Qatar Petroleum has entered into an agreement with Eni and Total to acquire a 25% participating interest (13.75% from Eni and 11.25% from Total) in blocks L11A, L11B and L12 located offshore Kenya. #QNA pic.twitter.com/9zwYJu8fRg

— Qatar News Agency (@QNAEnglish) July 23, 2019

On the occasion, His Excellency the Minister of State for Energy Affairs Saad bin Sherida Al Kaabi, who is also the President & CEO of Qatar Petroleum said, “We are pleased to sign this agreement to participate in exploring these frontier offshore areas in Kenya and to further strengthen our presence in Africa.”

“We hope that the exploration efforts are successful, and we look forward to collaborating with our valuable partners Eni and Total, and the government of Kenya in these blocks,” he stated.

“I would like to take this opportunity to thank the Kenyan authorities and our partners for their ongoing and continued support,” Al Kaabi added.

The three offshore blocks, namely L11A, L11B, and L12, are located in what is considered to be a frontier and largely unexplored area in the Lamu basin.

These exploration blocks cover a total area of approximately 15,000 square kilometers, with water depths ranging from about 1000 meters to 3,000 meters.

According to QP, the opportunity strengthens Qatar Petroleum’s position in the exploration of frontier basins with significant hydrocarbon resource potential.

Eni is an Italian company and one of the global oil and gas super-players, operating in 67 countries across the globe.

Total is a major energy player, which produces and markets fuels, natural gas, and low-carbon electricity, and has an active presence in more than 130 countries.

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Cover Image: for illustrative purposes only