QatarEnergy Boosts Offshore Stakes in Namibia

Source: QatarEnergy

QatarEnergy has entered into an agreement with TotalEnergies to acquire additional offshore exploration interests in the Orange Basin off the coast of Namibia, it said on Sunday.

The deal includes a 5.25% increase in QatarEnergy's stake in block 2913B and a 4.695% increase in block 2912, QatarEnergy said in a statement.

Under the agreement, QatarEnergy's stake in block 2913B will increase to 35.25%, while its stake in block 2912 will rise to 33.025%.

TotalEnergies remains the operator of both blocks, with other stakeholders including Impact Oil & Gas holding 9.5% and Namibia's state-owned Namcor holding 10% in block 2913B and 15% in block 2912.

(Reuters - Writing by Adam Makary; Editing by William Mallard)