By: Staff Writer
French energy giant, TotalEnergies and state-owned QatarEnergy, have secured participating interests in Block 3B/4B offshore South Africa, bolstering their footprint in the region.
In anticipation of offshore exploration endeavours within this block, TotalEnergies and its partner, QatarEnergy, completed the acquisition from Africa Oil South Africa, Azinam, and Ricocure, aiming to enhance their presence in the Orange Basin.
Post-transaction, TotalEnergies will possess a 33% participating interest in Block 3B/4B and will take up operatorship responsibilities, while QatarEnergy will hold a 24% interest.
The remaining interests will be retained by existing licence holders, with Africa Oil SA holding 17%, Ricocure 19.75%, and Azinam 6.25%. The transaction remains subject to final approvals from relevant authorities.
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