UK-based Impact Oil & Gas has agreed to a corporate restructure that will split its Namibian and South African interests into separate entities.
The company has entered a share purchase agreement (SPA) with IOG Energies, a wholly owned subsidiary of Deepkloof, which is Impact Oil & Gas’ majority shareholder. Meren Energy, the company’s second largest shareholder, is also supporting the transaction.
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Under the SPA, all of Impact Oil & Gas’ shares in its wholly owned subsidiary, Impact Africa Limited (IAL), and related assets will be transferred to IOG Energies.
IAL assets include a 45% interest in the Transkei & Algoa blocks (Exploration Right 12/3/252) offshore South Africa’s east coast.
It also has full ownership of Area 2 (Exploration Right 12/3/276), with 10% of this licence subject to the execution of a deed of assignment with Silver Wave Energy, IAL’s joint venture partner that previously held 10%.
In addition, IAL owns a 22% stake in the Orange Basin Deep block (Exploration Right 12/3/335) off the west coast.
Following completion, Impact Oil & Gas’ main assets will comprise a 9.5% undivided participating interest in both Block 2912 (Petroleum Exploration Licence 91) and Block 2913B (Petroleum Exploration Licence 56). This stake is held through its wholly owned subsidiary, Impact Oil and Gas Namibia.
These blocks, located offshore Namibia, include the Venus oil field discovery.
Block 2913B covers 8,215km² in water depths up to 3,000m. Impact Oil & Gas, through its subsidiary, holds 9.5%, alongside TotalEnergies (45.25%), QatarEnergy (35.25%), and NAMCOR (10%).
Block 2912 lies adjacent to and outboard of PEL 56, spanning 7,884 km² in water, with Impact, TotalEnergies, QatarEnergy, and NAMCOR as stakeholders.
Impact Oil & Gas has stated it plans to concentrate on advancing the Namibian licences towards a final investment decision and first oil, working with joint venture partners TotalEnergies, QatarEnergy and NAMCOR.
The reorganisation requires approval from South African authorities and relevant joint venture partners.
Despite the new ownership arrangement, both Impact and IOG Energies will remain under the direction of the existing management team and staff.
Impact Oil & Gas CEO Siraj Ahmed said: “The reorganisation is an important step for Impact and positions the company to be fully funded through to First Oil on the Venus Field development, while creating a structure to attract investment into the South African Assets.
“By aligning shareholder interests and leveraging the experience of the same highly experienced team, we are able to maximise value from Namibia in the period leading up to First Oil, while ensuring that the South African exploration assets continue to be managed efficiently within a dedicated structure.”
Impact Oil & Gas’ current operations span around 15,000 km², with a primary focus in Namibia.
The company holds a 9.5% interest in the Venus oil field, which is operated by TotalEnergies, and a final investment decision on this estimated 750m barrel development is anticipated in the first half of 2026.
