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TotalEnergies, QatarEnergy to acquire new offshore exploration license

Together with its partner QatarEnergy, TotalEnergies has agreed to acquire participating interests in Block 3B/4B, offshore South Africa, from Africa Oil South Africa, Azinam – a wholly owned subsidiary of Eco Atlantic Oil and Gas – and Ricocure.

When the transaction is completed, TotalEnergies will hold a 33% participating interest in Block 3B/4B and assume operatorship, while QatarEnergy will hold a 24% interest. Located within the prolific Orange basin, 200 km off the western coast of South Africa, Block 3B/4B covers an area of 17,581 km².

“Following the Venus success in Namibia, TotalEnergies is continuing to progress its Exploration effort in the Orange Basin, by entering this promising exploration license in South Africa”, said Kevin McLachlan, Senior VP of Exploration at TotalEnergies.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of QatarEnergy, added, “We are pleased to enter this block together with our strategic partner TotalEnergies, and we look forward to working together with our partners and the relevant government entities in South Africa to further assess this block’s potential.”

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