Qatar Petroleum signs deal with TotalEnergies to acquire interests in exploration blocks offshore South Africa

SOUTH AFRICA – Qatar Petroleum has entered into agreements with TotalEnergies to acquire working interests in three offshore exploration blocks in South Africa. Under the terms of the agreements, which are subject to customary approvals by the government of South Africa, Qatar Petroleum will hold a 25% participating interest in the South Outeniqua block, a 30% participating interest in the DWOB block, and a 29.17% participating interest in the OBD block. The South Outeniqua block covers an area of approximately 49,000 km2 in water depths ranging between 200 and 5000 m.…

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Qatar Petroleum acquires Yara’s 25% stake in QAFCO for US$1 billion

QATAR – Qatar Petroleum (QP) has signed an agreement with Yara international to acquire its 25 percent stake in Qatar Fertiliser Company (QAFCO) for $1 billion, a joint QP, Yara statement has revealed. The transaction will mark a end of a partnership that started with the establishment of  QAFCO, a joint venture, in which Yara owned a 25% share with the remaining 75% owned by Industries Qatar (IQ). QAFCO since then has become the world’s largest single-site urea producer, representing a significant percentage of the world’s traded urea volume, according…

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