#Qatar Petroleum buys stake in Total's Guyana assets; government reviewing deal - Reuters

Qatar Petroleum buys stake in Total's Guyana assets; government reviewing deal - Reuters:

Qatar Petroleum said on Monday it had agreed a deal with Total SA to acquire a stake in the French firm’s two oil and gas blocks offshore Guyana, but the South American country’s government said it was still reviewing the deal.

Qatar Petroleum said it would hold 40% of Total’s 25% participating interest in the Orinduik block, and 40 percent of Total’s 25% participating interest in the neighboring Kanuku. The block’s other partners are Tullow Oil Plc, with a 60% participating interest and EcoAtlantic with a 15% interest.

The statement from Qatar Petroleum did not contain any financial terms.

Mark Bynoe, Guyana’s director of energy, said the government was “studying” a letter from Total detailing the transaction but did not yet “understand the full implications” of the deal.