Oil & Gas QatarEnergy ups stakes in Namibia offshore blocks By Pramod Kumar November 25, 2024, 11:50 AM Reuters QatarEnergy will acquire an additional 5.25 percent and 4.7 percent interest in two blocks in Namibia's Orange Basin QatarEnergy has signed an agreement with France’s TotalEnergies to acquire additional stakes in two exploration blocks in the Orange Basin, off Namibia. The state-backed gas giant will acquire an additional 5.25 percent interest in block 2913B and another 4.7 percent interest in block 2912. QatarEnergy’s interests in both licenses will increase to 35.25 percent in block 2913B and 33 percent in block 2912 following regulatory approvals. TotalEnergies, which is the operator of the blocks, will hold 45.25 percent in block 2913B and 42.5 percent in block 2912. North Field expansion to power Qatar’s economy QatarEnergy signs 20-year naphtha deal with Shell QatarEnergy to develop solar project in Iraq with Total London-headquartered Impact Oil & Gas hold 9.5 percent in each bloc while state-owned National Petroleum Corporation of Namibia owns 10 percent and 15 percent in block 2913B and block 2912, respectively. The two blocks are located 300 km offshore Namibia in water depths between 2,600m and 3800m. No financial details were given. This month, QatarEnergy announced plans to buy a 23 percent stake in an offshore exploration block in Egypt from US oil company Chevron. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
