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Total to sell stakes in South American, African blocks to Qatar Petroleum

Total SA signed farm-in agreements with Qatar Petroleum for the sale of stakes in blocks located in Namibia, Guyana and Kenya, according to an Aug. 27 news release from the Paris-based company. The deals are still subject to approval by local authorities and aim to strengthen their international partnership.

In Namibia, Total will transfer a 30% stake in block 2913B to Qatar Petroleum and retain a 40% interest. Total will also transfer a 28.33% interest in block 2912 to Qatar Petroleum, while it will retain a 37.78% stake. The deepwater blocks are located in Namibia's Orange Basin.

The consortium plans to drill the first exploration well in block 2913B in 2020.

In Guyana, Qatar Petroleum will assume a 40% stake in the company that holds Total's existing 25% interest in the Orinduik and Kanuku blocks, which are adjacent to the Stabroek block in the offshore Guyana Basin. Total will hold the remaining 60% stake of the company. With the transaction, Qatar Petroleum will have a 10% interest in the Orinduik and Kanuku blocks while Total will have a 15% stake.

Total is currently drilling the Joe-1 exploration well in the Orinduik block, while the third exploration well Carapa-1 is planned in the Kanuku block later this year.

Total and Eni SpA will also transfer a combined 25% interest in Kenyan offshore blocks L11A, L11B and L12 to Qatar Petroleum. Total's stake in the block will be cut from 45% to 33.75%.

The consortium is planning an exploration well in block L11B by 2020.