Qatar Petroleum (QP) has signed up to enter two blocks offshore Cote d’Ivoire, marking its first foray into the West African state. The firm announced on 18 May that it had reached an agreement with Total to acquire 45% of its stakes in blocks CI-705 and CI-706. The deal still requires approval from the Cote d’Ivoire government.
QP has been rapidly expanding its international footprint. But its presence in West Africa remains limited: its only other regional asset lies on the other side of the Gulf of Guinea via a 15% stake in Total E&P Congo which it acquired in 2013 for $1.2bn. Total’s Congo assets netted it 49,000 boe/d last year (of which 47,000 b/d was oil), implying nearly 9,000 boe/d for QP. (CONTINUED - 398 WORDS)