QatarEnergy expands stake in offshore namibia blocks through deal with TotalEnergies

2024-11-25 04:00:02

(MENAFN) QatarEnergy inked a deal on Sunday with TotalEnergies to obtain an extra 5.25-percent interest in Block 2913B and an extra 4.695-percent interest in Block 2912, both sited in the Orange Basin offshore Namibia.

Based on a statement from QatarEnergy, the firm’s contributing interests in both licenses will surge to 35.25 percent and 33.025 percent, respectively, with the French multinational energy firm holding 45.25 percent and 42.475 percent, respectively.

The other allies in both licenses are Britain-based oil and gas exploration firm Impact Oil & Gas, and the National Petroleum Corporation of Namibia, the statement further noted.

"We look forward to delivering on our exploration and potential development program," the statement cited Qatar's Minister of State for Energy Affairs and Leader and CEO of QatarEnergy Saad Sherida Al-Kaabi as stating.

Blocks 2913B and 2912 are sited nearly 300 km offshore Namibia, in water depths ranging from 2,600-3,800 meters.

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