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Petronas acquires 30% stake in Sengal's Rufisque Offshore Profond block

A subsidiary of Malaysia's Petroliam Nasional Bhd., or Petronas, has inked a farm-in agreement with a unit of TOTAL SA, Total E&P Senegal SAS, to acquire a 30% interest in the Rufisque Offshore Profond exploration block in West Africa.

With a 60% stake, Total will remain the operator of the block. Société Nationale des Pétroles du Sénégal, known as Petrosen, holds the remaining 10% interest.

Exploration drilling activities at the block will begin in 2019.

The deal is in line with Petronas' upstream strategy to expand its exploration portfolio in West Africa, where it is operator of an ultra-deep water block in Gabon.