TotalEnergies And QatarEnergy Invest In Oil Production In South Africa
Energy companies TotalEnergies and QatarEnergy are buying shares in exploration block 3B/4B in the Orange Basin offshore South Africa, according to a TotalEnergies press release.
“TotalEnergies and QatarEnergy have signed an agreement to acquire interests in Block 3B/4B, located offshore South Africa, from Africa Oil, Azinam (a subsidiary of Eco Atlantic Oil and Gas) and Ricocure,” the company said in a statement.
Following the completion of the deal, TotalEnergies will become the operator of block 3B/4B and will own 33% of the shares, while QatarEnergy will hold 24%. The transaction is subject to final approval by the relevant authorities. The 17,581 square kilometer Block 3B/4B is located in the Orange Basin off the coast of South Africa in water depths ranging from 300 to 2,500 metres. The block is adjacent to the Venus and Graff oil fields. It carries out 2D and 3D seismic surveys.
French TotalEnergies is one of the largest energy companies in the world, operating in more than 130 countries.
QatarEnergy is Qatar’s state-owned oil and gas company and controls all components of the country’s oil sector (exploration, production, refining, transportation and storage).
