{"id":9430,"date":"2024-01-10T11:00:17","date_gmt":"2024-01-10T11:00:17","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=9430"},"modified":"2024-01-10T11:00:17","modified_gmt":"2024-01-10T11:00:17","slug":"totalenergies-boosts-holding-in-namibian-oil-discovery","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/9430\/","title":{"rendered":"TotalEnergies boosts holding in Namibian oil discovery"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0TotalEnergies has increased its holding in the Venus oil discovery offshore Namibia in a deal with Impact Oil and Gas that marks a significant step towards the prospect’s development, the energy major said on Wednesday.<\/p>\n

TotalEnergies agreed to acquire from Impact, which is majority owned by Africa Oil and Hosken Consolidated Investments Limited, an additional 10.5% interest in block 2913B and a 9.39% interest in block 2912.<\/p>\n

The transaction “represents a key step toward the development of Venus by consolidating the partnership and securing financing of all partners,” TotalEnergies CEO Patrick Pouyanne said in a statement.<\/p>\n

The southern African country, which has no oil and gas production, has attracted huge interest from energy companies after the discovery of resources by TotalEnergies and Shell in recent years.<\/p>\n

Also on Wednesday, Portugal’s Galp Energia confirmed the discovery of a significant light oil column in high quality reservoir sands in the Mopane-1X well in block PEL83 offshore Namibia.<\/p>\n

Following the completion of the deal with Impact Oil and Gas, TotalEnergies would own a 45.25% interest in block 2913B containing the Venus discovery, and a 42.5% interest in block 2912. Impact will retain a 9.5% interest in each licence.<\/p>\n

TotalEnergies, which operates the block, has drilled several test wells in the area that it said yielded positive results and is appraising its development.<\/p>\n

TotalEnergies said it intends to share the additional interest with joint venture member QatarEnergy.<\/p>\n

The deal is subject to approvals by the Namibian authorities and joint venture partners. TotalEnergies will pay Impact $99 million for past investments in the blocks and will provide a loan for the remaining development.<\/p>\n

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