TotalEnergies, a global multi-energy corporation, and Qatari state-owned petroleum firm, QatarEnergy have purchased participation interests in Block 3B/4B, which is located in the Orange Basin offshore South Africa.
Following the transaction, TotalEnergies will run the block with a 33% ownership; QatarEnergy will have a 24% stake, and the remaining interests will be owned by independent oil and gas exploration businesses in Africa. Oil South Africa (17%), Azinam (6.25%), and Ricocure (19.75%).
“Following the Venus success in Namibia, TotalEnergies is continuing to progress its exploration efforts in the Orange Basin by entering this promising exploration license in South Africa”, said Kevin McLachlan, Senior Vice-President: Exploration at TotalEnergies.
The agreement is presently receiving final approval from South African authorities.
Source: Energy Ghana