TotalEnergies, QatarEnergy acquire stake in Block 3B/4B offshore South Africa
TotalEnergies said on March 6 that it has inked a deal to purchase participation interests in Block 3B/4B, offshore South Africa, from Africa Oil South Africa, Azinam, and Ricocure, along with its partner QatarEnergy.
After the deal closes, QatarEnergy will hold a 24% stake in Block 3B/4B, while TotalEnergies will hold a 33% participating interest and take over operatorship.
Current license holders Africa Oil (17%), Ricocure (19.75%), and Azinam (6.25%) will own the remaining stakes. Final permissions from the appropriate authorities are a prerequisite for the transaction.
Block 3B/4B is situated in the Orange basin, 200 km off the western coast of South Africa, and spans 17,581 km2. It is close to the DWOB license that is jointly run by QatarEnergy (30%) and Sezigyn (20%), with TotalEnergies operating at a 50% share.
“Following the Venus success in Namibia, TotalEnergies is continuing to progress its Exploration effort in the Orange Basin, by entering this promising exploration license in South Africa”, said Kevin McLachlan, senior vice-president exploration of TotalEnergies.
The French major earlier this year agreed to acquire an additional 10.5% participating interest in Block 2913B and an additional 9.39% participating interest in Block 2912 located offshore Namibia from Impact Oil and Gas.
The Venus discovery, located in Block 2913B, is a light oil and associated gas field, located in the Orange Basin, off the coast of southern Namibia.