Qatar Energy has signed an agreement with Total Energies to acquire an additional 5.25% stake in Block 2913B, and another 4.695% stake in Block 2912. Both blocks are located in the Orange Basin off the coast of Namibia.
Under the agreement, which is subject to the usual official approvals, Qatar Energy’s share in the two exploration licenses will rise to 35.25% in Block 2913B and 33.025% in Block 2912.
Total Energies (the operator) will own 45.25% in Block 2913B and 42.475% in Block 2912.
The other partners in the two licenses are Impact Oil & Gas, with a 9.5% stake in both licences, and the Namibian National Petroleum Corporation (Namcor), with a 10% stake in Block 2913B and 15% in Block 2912.
Qatar Energy acquires two new exploration lots off the coast of Namibia#Qatar_Energy #Qatar pic.twitter.com/CvXAQvHPVW
— QatarEnergy (@qatarenergy) November 24, 2024
Important step
Engineer Saad bin Sherida Al Kaabi, Qatari Minister of State for Energy Affairs and Managing Director and CEO of Qatar Energy, described the agreement as another important step in cooperation with partners towards developing the Venus exploratory well located in Area 2913B, where oil and gas were discovered.
“I would like to take this opportunity to thank the Namibian authorities and all our partners for their support, and we look forward to implementing our exploration and development programme,” he added.
Areas 2913B and 2912 are located about 300 kilometers off the coast of Namibia, in waters with depths ranging between 2,600 and 2,600 meters.
