Energy company TotalEnergies has acquired, with its partner State-owned QatarEnergy, participating interests in Block 3B/4B offshore of South Africa from Africa Oil South Africa, Azinam and Ricocure.
Block 3B/4B is adjacent to the Deep Water Orange Basin licence operated by TotalEnergies, in which it has a 50% stake, alongside QatarEnergy wth 30% and Sezigyn with a 20% stake.
After the transaction, TotalEnergies will hold a 33% participating interest in Block 3B/4B and will become the operator, while QatarEnergy will hold a 24% interest.
The remaining interests will be held by existing licence holders, with Africa Oil South Africa holding a 17% stake, Ricocure 19.75% and Azinam 6.25%.
The transaction is subject to final approvals from relevant authorities, TotalEnergies says.
Block 3B/4B covers an area of 17 581 km2 and is located within the prolific Orange basin, 200 km off the western coast of South Africa.
“Following the Venus success in Namibia, TotalEnergies is continuing to progress its exploration effort in the Orange basin by entering this promising exploration licence in South Africa,” says TotalEnergies exploration senior VP Kevin McLachlan.