QatarEnergy has reached agreement with TotalEnergies on strengthening its interests in two exploration blocks in the frontier Orange basin offshore Namibia.
Subject to approvals, QatarEnergies would acquire an additional 5.25% from TotalEnergies in block 2913B (PEL 56) and a further 4.695% in block 2912 (PEL 91).
The arrangement would increase its stakes to 35.25% in block 2913B and 33.025% in block 2912, with TotalEnergies remaining operator with respective 45.25% and 42.475% shares.
Both the blocks are around 300 km offshore Namibia, in water depths ranging from 2,600-3,800 m.
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