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"TotalEnergies and QatarEnergy Expand Offshore Presence with Strategic Acquisition in South Africa's Orange Basin

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louis Buyisiwe

Mar 7, 2024

Giant energy companies target Orange Basin

 the Orange Basin, off the coast of South Africa, with TotalEnergies and QatarEnergy's shared interests highlighted"
TotalEnergies and QatarEnergy Secure Key Stakes in South Africa's Orange Basin: A Bold Step Forward in Offshore Energy Exploration

TotalEnergies and QatarEnergy have recently finalized a significant deal to acquire stakes in the offshore Block 3B/4B, situated off the South African coast, from Africa Oil South Africa, Azinam, and Ricocure.

Post-acquisition, TotalEnergies will become the operator, holding a 33% interest in Block 3B/4B, while QatarEnergy secures a 24% stake.

The rest will be distributed among the original licensees: Africa Oil SA with 17%, Ricocure at 19.75%, and Azinam holding a 6.25% interest. This strategic move awaits the green light from the relevant regulatory bodies.

Block 3B/4B, sprawling over 17,581 square kilometers, is strategically positioned in the fertile Orange Basin, about 200 kilometers from South Africa's western coastline.

This area is notable for its proximity to the DWOB license, where TotalEnergies (50%) collaborates with QatarEnergy (30%) and Sezigyn (20%).

Kevin McLachlan, TotalEnergies' Senior VP of Exploration, emphasized the company's commitment to expanding its exploration initiatives in the Orange Basin. This follows the notable success in Namibia's Venus project, marking TotalEnergies' continued growth in strategic exploration licenses within South Africa.

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