ID :
185265
Mon, 05/30/2011 - 09:41
Auther :
Shortlink :
https://oananews.org//node/185265
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QP, Total and CNOOC Sign Agreement for Total s 25% interest in Block BC
Doha, May 29 (QNA) - Qatar Petroleum, CNOOC Middle East and Total have announced on Sunday an agreement in which Total has acquired 25% interest in Qatar s Block BC (pre-Khuff) exploration license. CNOOC Middle East (Qatar) Ltd., a wholly-owned subsidiary of CNOOC International Ltd., will continue to be the operator of the block with a 75% interest.
Located 130 kilometers east of the Qatari coast, the offshore block covers an area of 5,649 square kilometers, with water depths ranging from 15 to 35 meters, a joint press statement said.
HE the Minister of Energy and Industry Dr. Mohammed Bin Saleh Al-Sada, CNOOC Country Manager to Qatar Xiang Hua, Chairman and Chief Executive Officer of Total Christophe de Margerie signed the agreement.
The Block BC (pre-Khuff) Exploration and Production Sharing Agreement (EPSA) entered into with the Government of the State of Qatar, in 2009 stipulates that 2D and 3D seismic surveys will be conducted by CNOOC Middle East and that at least three exploration wells will be drilled by 2014.
Commenting on Total s participation in the Block BC EPSA, HE Al-Sada said "We would like to welcome our long time partner, Total, into the Block BC EPSA, and we wish them and CNOOC all success with their exploration activities, which we believe are always enhanced when quality companies such as Total and CNOOC work together for a common goal."
Located 130 kilometers east of the Qatari coast, the offshore block covers an area of 5,649 square kilometers, with water depths ranging from 15 to 35 meters, a joint press statement said.
HE the Minister of Energy and Industry Dr. Mohammed Bin Saleh Al-Sada, CNOOC Country Manager to Qatar Xiang Hua, Chairman and Chief Executive Officer of Total Christophe de Margerie signed the agreement.
The Block BC (pre-Khuff) Exploration and Production Sharing Agreement (EPSA) entered into with the Government of the State of Qatar, in 2009 stipulates that 2D and 3D seismic surveys will be conducted by CNOOC Middle East and that at least three exploration wells will be drilled by 2014.
Commenting on Total s participation in the Block BC EPSA, HE Al-Sada said "We would like to welcome our long time partner, Total, into the Block BC EPSA, and we wish them and CNOOC all success with their exploration activities, which we believe are always enhanced when quality companies such as Total and CNOOC work together for a common goal."
