Qatar Petroleum entered into a farm-in agreement with Sonangol, the national oil company of Angola, and Total to acquire a 30% participating interest in Block 48 offshore Angola.
Total and Sonangol agreed in 2018 to a 50-50 partnership in Block 48 deepwater exploration under a risk-service agreement. The block, with a drill ready opportunity, covers an area of 3,600 sq km and is expected to be drilled as part of a 2020-2021 drilling program.
The farm-in agreement is subject to customary approvals by the Angolan government. Upon receipt, Total, as operator, will hold 40% interest in the block while Sonangol and Qatar Petroleum each will hold 30%.
Block 48 lies in the ultradeep waters offshore Lower Congo basin 400 km northwest of Luanda and 200 km west of Soyo onshore facilities. Average water depth in the block is 2,500 m.