Luanda: QatarEnergy, in collaboration with its partners Shell and Sonangol E and P, has signed an agreement with Angola's National Agency for Oil, Gas, and Biofuels (ANPG) concerning Blocks 8 and 22 offshore the Republic of Angola. The agreement marks a significant step in QatarEnergy's international expansion strategy in the energy sector.
According to Qatar News Agency, the agreement will see QatarEnergy hold a 30% working interest in the offshore blocks, subject to necessary governmental approvals and contractual arrangements. Shell, serving as the operator, will hold a 50% stake, while Sonangol will retain a 20% interest. The collaboration demonstrates a concerted effort to explore and develop Angola's offshore resources.
Commenting on the agreement, HE Minister of State for Energy Affairs and President and CEO of QatarEnergy Saad bin Sherida Al Kaabi expressed satisfaction with the deal, highlighting its alignment with QatarEnergy's international upstream exploration strategy and growth initiatives. He extended gratitude to the Angolan authorities and partners Shell and Sonangol for their support and cooperation, emphasizing the anticipation of a rewarding and enduring partnership.
The signing took place in Luanda, Angola's capital, on the sidelines of the Angola Oil and Gas Conference, showcasing the strategic importance of the agreement within the context of regional energy discussions.