Offshore staff
PARIS, France — TotalEnergies and partner QatarEnergy have signed an agreement to farm into Block 3B/4B in the Orange Basin offshore South Africa.
Following the transaction with the existing co-venturers Africa Oil South Africa, Azinam (a subsidiary of Eco Atlantic Oil and Gas) and Ricocure, TotalEnergies will assume a 33% operating interest in the block, with QatarEnergy assigned 24%.
Africa Oil will retain 17%, Ricocure 19.75% and Azinam 6.25%. The deal remains subject to approvals from the authorities.
The block covers a 17,581-sq-km area, 200 km from the western coast of South Africa and in water depths of 300-2,500 m. It is also adjacent to the TotalEnergies-operated DWOB license, in which QatarEnergy and Sezigyn are the other partners.
Gil Holzman, CEO of Eco Atlantic, said, “Block 3B/4B sits in one of the most prolific and exciting areas in the world for offshore oil and gas exploration and development. The decision by two of the largest energy companies globally to farm into this license is strengthened by their significant understanding of the Orange Basin, having made the Venus large light oil discovery just recently north of the basin in Namibia.”
Block 3B/4B is to the southeast and on trend with various large oil discoveries offshore Namibia including Venus and Graff. It is covered by 14,000 sq km of 2D seismic and 10,800 sq km of 3D seismic.
The existing partners have identified multiple exploration prospects, most in water depths of about 1,500 m.
03.06.2024
