In a statement the company said, 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% participating interest, Total with a 33.75% participating interest, and Qatar Petroleum with a 25% participating interest.
Minister of State for Energy Affairs and President & CEO of Qatar Petroleum, Mr. Saad Sherida Al-Kaabi 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.”
Further, he noted that they hope the exploration efforts are successful, and they look forward to collaborating with their valuable partners Eni and Total, and the government of Kenya in these blocks.
The three offshore blocks (L11A, L11B and L12) are situated in a frontier and largely unexplored area in the Lamu basin east of Kenya and have a total area of approximately 15,000 square kilometers, with water depths ranging from about 1000 meters to 3,000 meters.
In line with its growth strategy, this opportunity strengthens Qatar Petroleum’s position in the exploration of frontier basins with significant hydrocarbon resource potential.