TotalEnergies, QatarEnergy acquire new exploration license offshore South Africa near successful Namibian discoveries in Orange basin

March 06, 2024

(WO) – TotalEnergies and QatarEnergy have inked an agreement to acquire participating interests in Block 3B/4B, offshore South Africa, from Africa Oil South Africa, Azinam (a wholly owned subsidiary of Eco Atlantic Oil and Gas) and Ricocure.

Source: TotalEnergies

Located within the prolific Orange basin, 200 km off the western coast of South Africa, Block 3B/4B covers an area of 17,581 km2. Block 3B/4B is adjacent to the DWOB license operated by TotalEnergies (50%) alongside QatarEnergy (30%) and Sezigyn (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”, said Kevin McLachlan, Senior Vice-President Exploration of TotalEnergies.

Following completion of the transaction, TotalEnergies will hold a 33% participating interest in Block 3B/4B and assume operatorship, while QatarEnergy will hold a 24% interest.

The remaining interests will be held by existing license holders, Africa Oil SA (17%), Ricocure (19.75%) and Azinam (6.25%). The transaction is subject to final approvals from relevant authorities.

TotalEnergies has been present in South Africa since 1954, when it started distributing petroleum products. Today, the company is a leading player in Renewables, Fuel Marketing & Services, Lubricant Blending, Refining and Exploration & Production.

TotalEnergies in South Africa, through its EP segment and together with its various joint venture partners, holds Exploration Rights over four offshore Blocks: Block 5/6/7 (south-west coast), Block Deep Water Orange basin (west coast), Orange basin Deep (west coast), Outeniqua South (south coast) for exploration and well drilling of oil and gas, and has applied for a Production Right (PR) over Block 11B/2B (south coast).

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