TotalEnergies is looking to drill the first exploration well next year on Block 3B/4B offshore South Africa, Africa Oil said in a results update.
Block 3B/4B is southeast of and on trend with various oil discoveries in the Namibian part of the Orange Basin, including Venus. It has 14,000 km of 2D seismic coverage and 10,800 sq km of 3D seismic, with a large set of exploration prospects identified.
Africa Oil has an indirect interest via its shareholding in Impact Oil & Gas. Last August, Impact completed a farm-down agreement under which TotalEnergies became operator, accompanied by QatarEnergy.
Soon afterward, South Africa’s Department of Mineral Resources and Energy issued an Environmental Authorization for drilling of up to five exploration wells. The legislative notification and appeals process is underway with the regulatory agencies.
Development studies continue for the Venus light oil field in Block 2913B, with FID now expected by mid-2026. The project could produce 150,000 bbl/d of ~45°API oil.
Offshore Nigeria, Africa Oil has a 50% shareholding in Prime Oil & Gas, a partner in the Agbami, Egina and Akpo fields.
At the Agbami FPSO, all three compressors will be overhauled over the next two years to sustain high-equipment uptime. Processing of the 4D-M3 seismic acquired last year continues along with preparations for the next drilling campaign, scheduled for 2026.
Another drilling program is due to start shortly on Egina, based on the 4D-M2 survey acquired in second-quarter 2024. At Akpo, the partners plan additional infill drilling and potential near-field exploration.
