QatarEnergy Expands Offshore Holdings in Namibia with TotalEnergies Agreement

QatarEnergy increases stakes in Namibia’s Orange Basin, strengthening its position in Southern Africa

QatarEnergy has entered into an agreement with TotalEnergies to acquire additional interests in two offshore blocks located in Namibia’s Orange Basin. This acquisition increases QatarEnergy’s stake in block 2913B to 35.25% and in block 2912 to 33.025%.

The two blocks are situated approximately 300 km offshore Namibia, with water depths ranging from 2,600 to 3,800 meters. TotalEnergies will remain the operator, holding a 45.25% interest in block 2913B and 42.48% in block 2912. Other stakeholders include Impact Oil & Gas and the National Petroleum Corporation of Namibia.

The transaction is pending customary regulatory approvals.

News source: Oil & Gas Middle East