TotalEnergies has signed an agreement to acquire interests in an exploration block offshore South Africa, alongside QatarEnergy. The interests were purchased from Africa Oil South Africa (SA), Azinam (a wholly owned subsidiary of Eco Atlantic Oil and Gas) and Ricocure. 

TotalEnergies has gained a 33% interest in Block 3B/4B, which is located 200km off the west coast of South Africa, and will operate the exploratory asset. Meanwhile, QatarEnergy will hold a 24% interest. The remaining interests will be held by the existing licence holders, with Africa Oil SA retaining 17%, Ricocure holding 19.75% and Azinam holding 6.25%. 

The exploration block sits within South Africa’s Orange Basin, which is home to several major oil exploration sites. Block 3B/4B covers 17,581km² of ocean, next to the DWOB licence, which is also operated by TotalEnergies and QatarEnergy, as well as Sezigyn. According to Africa Oil, Block 3B/4B holds total unrisked gross P50 prospective resources of approximately four billion barrels of oil equivalent. 

Kevin McLachlan, senior vice-president (Exploration) of TotalEnergies, said in a press release: “Following the Venus success in Namibia, TotalEnergies is continuing to progress its exploration effort in the Orange Basin, by entering this promising exploration licence in South Africa.” 

Saad Sherida Al-Kaabi, Qatar Minister of State for Energy Affairs and the President and CEO of QatarEnergy, added: “The farm-in to Block 3B/4B builds on our presence in the prolific Orange Basin. 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.” 

The transaction is subject to final approval from the relevant authorities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.