Global multi-energy company TotalEnergies and state-owned petroleum firm QatarEnergy have acquired participating interests in Block 3B/4B – located in the Orange Basin, offshore South Africa.
Upon closure of the deal, TotalEnergies will operate the block with a 33% stake, QatarEnergy will hold a 24% share while the remaining interests will be held by independent oil and gas exploration companies Africa Oil South Africa (17%); Azinam (6.25%); and Ricocure 19.75%. The transaction is currently pending final approvals from South African authorities.
“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.
TotalEnergies and partner QatarEnergy made a discovery at the Venus-1 well in the Namibian side of the Orange Basin in 2022 as well as at the Mangetti-1X well in 2024.
Gil Holzman, CEO of Eco Atlantic, the parent company of Azinam, added that, “The decision by two of the largest energy companies globally to farm into this license is strengthened by their significant understanding of the Orange basin.”