In January, TotalEnergies upped its interest in a pair of blocks offshore Namibia that includes the Venus discovery through the purchase of interest from Africa Oil investee company Impact Oil & Gas Ltd. (Source: Shutterstock)
TotalEnergies is picking up interest and operatorship of an Orange Basin block offshore South Africa, the supermajor announced March 6. QatarEnergy is also acquiring interest in the block.
Before the deal, Africa Oil Corp. operated Block 3B/4B with 26.25% interest on behalf of partners Ricocure with 53.75% interest and Eco Atlantic Oil and Gas subsidiary Azinam with 20%. Following completion of the transaction, TotalEnergies will operate the block with 33% interest on behalf of partners QatarEnergy with 24% interest, Ricocure with 19.75% interest, Africa Oil with 17% and Eco with 6.25%.
The transaction is subject to final approvals from relevant authorities.
Located off the western coast of South Africa, Block 3B/4B covers an area of 17,581 sq km in water depths of 300 m to 2,500 m. It is southeast and on trend with the Venus and Graff discoveries offshore Namibia in 2022. The block is adjacent to the DWOB license that TotalEnergies operates with 50% on behalf of partners QatarEnergy with 30% and Sezigyn with 20%.
“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,” Kevin McLachlan, senior vice president of exploration for TotalEnergies, said in a press release.
In January, TotalEnergies upped its interest in a pair of blocks offshore Namibia that includes the Venus discovery through the purchase of interest from Africa Oil investee company Impact Oil & Gas Ltd.
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