South Africa: TotalEnergies becomes operator of the Orange Basin exploration permit

TotalEnergies has signed an agreement with its partner QatarEnergy to acquire interests in offshore Block 3B/4B in South Africa from Africa Oil South Africa, Azinam (a 100% subsidiary of Eco Atlantic Oil and Gas) and Ricocure.

Once the transaction is finalized, TotalEnergies will hold a 33% interest in Block 3B/4B and assume the operator's position, while QatarEnergy will hold a 24% interest.

The remaining interests will be held by the existing licensees, Africa Oil SA (17%), Ricocure (19.75%) and Azinam (6.25%). The transaction is subject to final approval by the relevant authorities.

Located in the prolific Orange Basin, 200 km off South Africa's west coast, Block 3B/4B covers an area of 17,581 km2.

Block 3B/4B is adjacent to the DWOB permit operated by TotalEnergies (50%) alongside QatarEnergy (30%) and Sezigyn (20%).

"Following the success of Venus in Namibia, TotalEnergies is continuing its exploration efforts in the Orange Basin by entering this promising exploration permit in South Africa," said Kevin McLachlan, Senior Vice President Exploration at TotalEnergies.

"Attracting TotalEnergies and QatarEnergy as new partners in Block 3B/4B is a confirmation of the block's exploration potential. These opportunities are in vogue with discoveries in Namibia's Orange Basin, notably Venus in Block 2913B.

"Both companies have extensive geological knowledge of the basin and have made successful discoveries nearby. TotalEnergies, as the new operator, also brings extensive deepwater drilling and development expertise," added Roger Tucker, Managing Director of Africa Oil.