TotalEnergies to Expand Presence in the Orange Basin

SEATTLE (Oil Monster): TotalEnergies announced that it has inked a deal to purchase participation interests in Block 3B/4B offshore South Africa from Africa Oil South Africa, Azinam and Ricocure. The new offshore exploration license will help TotalEnergies and its partner Qatar Energy in expanding its presence in the Orange Basin.

Upon completion of the transaction, TotalEnergies will hold a 33% participating interest in the block and operate it. Meantime, QatarEnergy will hold 24% interest. The remaining interests of 17% will be held by Africa Oil SA, 19.75% by Ricocure and 6.25% by Azinam. The transaction is subject to final approval by relevant authorities, the company press release said.

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Block 3B/4B is located within the prolific Orange basin, 200 km off the western coast of South Africa. It covers an area of 17,581 square kilometres. The block is adjacent to the DWOB license which is owned 50% and operated by TotalEnergies in partnership with Qatar Energy and Sezigyn who hold 30% and 20% stakes respectively.

Commenting on the development, Kevin McLachlan, Senior Vice-President Exploration of TotalEnergies said that the move marks the continued progress of itsExploration effort in the Orange Basin, following the Venus success in Namibia.