Impact Oil & Gas has completed a farm-down of its interests in blocks 2912 and 2913B offshore Namibia to TotalEnergies EP.
Under the transaction, it has also received a cash payment of about $99 million to cover its share of costs incurred on the blocks prior to Jan. 1.
Africa Oil, which is set to increase its shareholding in Impact to 39.5%, will indirectly hold 3.8% in the two blocks.
TotalEnergies discovered the giant Venus oil field in Block 2913B in PEL 56 in 2022, and it has since drilled four further exploration and appraisal wells.
Four of these wells successfully penetrated and tested the Venus field. Planning is progressing for the first planned development area, with the partners targeting finalization by year-end 2025.
So far this year, two more 3D seismic acquisition programs have been acquired over the southern and northern parts of the two blocks. The data are undergoing processing and interpretation, with results to be used to evaluate prospects and leads in the far northern and southern parts of the blocks.
Recently the DeepSea Mira semisub spud the Tamboti-1X exploration well in the northern part of Block 2913B.
