TotalEnergies EP South Africa BV and QatarEnergy International E&P LLC signed an agreement to acquire participating interests in Block 3B/4B, offshore South Africa, from Africa Oil Corp., Azinam Group Ltd., and Ricocure (Proprietary) Ltd.
Block 3B/4B covers an area of 17,581 sq km in Orange basin, 200 km off the western coast of South Africa in water depths of 300-2,500m. The block lies to the southeast and on trend with oil discoveries offshore Namibia including Venus in TotalEnergies-operated Block 2913B in PEL 56 and Graff in Shell plc-operated PEL 39 (OGJ Online, Sept. 28, 2023; Feb. 4, 2022).
Following completion of the transaction, TotalEnergies will become operator and hold 33% participating interest. QatarEnergy will hold 24% interest. The remaining interests will be held by existing license holders Africa Oil SA (17%), Ricocure (19.75%), and Azinam (6.25%).
The transaction is subject to final approvals from relevant authorities.
