TotalEnergies farms out additional interests in Orange basin blocks offshore Namibia

TotalEnergies has agreed to farm-out additional interests in an exploration asset offshore Namibia to QatarEnergy.

QatarEnergy will acquire an additional 5.25% interest in Block 2913B (PEL 56) and an additional 4.695% interest in Block 2912 (PEL 91), both in Namibia’s Orange basin. 

Subject to approvals, QatarEnergy’s participating interests will increase to 35.25% in Block 2913B and 33.025% in Block 2912. Operator TotalEnergies will hold 45.25% in Block 2913B and 42.475% in Block 2912. 

The other partners in the licenses are Impact Oil & Gas, holding 9.5% in each, and the National Petroleum Corporation of Namibia (NAMCOR), holding 10% in Block 2913B and 15% in Block 2912.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and chief executive officer of QatarEnergy said the deal is another step in working toward the development of the Venus discovery in Block 2913B. 

Blocks 2913B and 2912 lie about 300 km offshore Namibia, in water depths of 2,600-3,800 m.