Energy company QatarEnergy signed an agreement with energy major TotalEnergies for the acquisition of additional interests in PEL 56 and PEL 91, situated in Namibia’s offshore Orange Basin.
Under the agreement, QatarEnergy will acquire an additional 5.25% stake in Block 2913B (PEL 56) and a 4.695% stake in Block 2912 (PEL 91). The transactions – subject to approvals – bring the company’s total stake in the assets to 35.25% and 33.025%, respectively.
QatarEnergy CEO Saad Sherida Al-Kaabi stated that “this agreement marks another important step in working collaboratively with our partners towards the development of the Venus discovery located on block 2913B.”
In addition to TotalEnergies, block partners on PEL 56 and PEL 91 include energy company Impact Oil & Gas and Namibia’s national oil company NAMCOR.
