QatarEnergy Expands Offshore Interests in Namibia

QatarEnergy has announced an agreement to acquire additional interests in two offshore exploration blocks in Namibia's Orange Basin from TotalEnergies. The deal will increase QatarEnergy's stake to 35.25% in block 2913B and 33.025% in block 2912, pending customary approvals. TotalEnergies, which remains the operator of both blocks, will hold 45.25% in block 2913B and 42.475% in block 2912. This acquisition is part of QatarEnergy's strategy to expand its presence in Namibia's energy sector, particularly following the discovery of the significant Venus oil find in block 2913B. Other stakeholders in the blocks include Impact Oil & Gas and Namibia's state-owned Namcor. QatarEnergy's CEO, Saad Al-Kaabi, expressed optimism about collaborating with partners to develop the Venus discovery and thanked Namibian authorities for their support.