By Nathan Allen

Qatar Petroleum said Tuesday that it will take a 25% stake in three exploration blocks, currently held jointly by Eni SpA (ENI.MI) and Total SA (FP.FR).

Under the terms of the deal Qatar Petroleum said it will take a share in the L11A, L11B and L12 blocks, in deep water offshore Kenya.

Eni, which is the operator of the blocks, has agreed to sell a 13.75% stake, while Total will sell an 11.25% stake.

Following the transaction's close Eni will hold 41.25%, Total will hold 33.75% and Qatar Petroleum will hold 25%.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

July 23, 2019 09:25 ET (13:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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