{"id":61723,"date":"2024-01-19T16:52:37","date_gmt":"2024-01-19T16:52:37","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil"},"modified":"2024-01-19T17:22:20","modified_gmt":"2024-01-19T17:22:20","slug":"totalenergies-wants-bigger-share-of-namibian-oil","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil","title":{"rendered":"TotalEnergies wants bigger share of Namibian oil"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>FOLLOWING substantial discoveries of light oil in Namibia at the beginning of last year, global oil major, TotalEnergies now aims to significantly increase its shareholding in two deep-water exploration blocks in the Orange basin off the southern coast.<\/p>\n

If approved by regulators, TotalEnergies, in collaboration with its joint venture partner QatarEnergy, hope to acquire another 10.5% interest in Block 2913B and an additional 9.39% in Block 2912 from privately-owned exploration company, Impact Oil and Gas Namibia.<\/p>\n

\u201cAfter the completion of these transactions, which will be subject to customary third-party approvals from the Namibian authorities and joint venture parties, TotalEnergies would own 45.25% interest in block 2913B containing the Venus discovery, and 42.5% interest in block 2912. Impact will retain a 9.5% interest in each licence,\u201d read a TotalEnergies statement.<\/p>\n

The proposed agreement stipulates that Impact will be reimbursed for expenses incurred for the exploratory interests, through a US$99 million payment at closing. Impact will also be carried for its remaining interests until it receives the first sales proceeds from hydrocarbon production, secured via a repayment mechanism based on Impact\u2019s share of production. Impact, the original operator, initially conducted the acquisition of 2D and 3D seismic data in the area to define the Venus prospect in partnership with the state-owned the National Petroleum Corporation of Namibia (Namcor).<\/p>\n

TotalEnergies joined the venture in 2017, followed by QatarEnergy in 2019.<\/p>\n

\u201cThis transaction not only increases our share in the Venus discovery and remaining perspectivity on these blocks, but also represents a key step towards the development of Venus by consolidating the partnership and securing financing of all partners which will add value to all stakeholders\u201d, said Patrick Pouyanne\u0301, TotalEnergies chairman and chief executive officer.<\/p>\n

Block 2913B area spans more than 8 000 square km in water depth of up to 3 000m. Currently, exploration continues with further appraisal drilling and testing, featuring the Venus-1A well. Block 2912 spans approximately 7 884 square km in depths ranging up to 3 900m.<\/p>\n

A comprehensive 3D seismic acquisition programme is being conducted over the southern part of Block 2913B, which covers an area identified for follow-up perspectivity from existing 2D seismic datasets and includes the Damara and Damara South prospects.<\/p>\n

TotalEnergies is a global multi-energy company that produces and markets oil and biofuels, natural gas and green gases, renewables and electricity. Active in nearly 130 countries, TotalEnergies employs about 100 000 people.<\/p>\n

Shell<\/p>\n

Meanwhile, Shell has commenced drilling a second appraisal well on its multibillion-barrel Jonker oil discovery, which was also made in the Orange Basin, Shell is exploring in Petroleum Exploration License 39 (PEL 39) with its JV partners, QatarEnergy (45% participating interest) and Namcor, (10%).<\/p>\n

According to industry insiders, the semi-submersible rig, Deepsea Bollsta recently spudded the latest delineation well.<\/p>\n

According to Shell, there has been a 66% increase in direct jobs for Namibians working on the venture\u2019s drilling campaign, with more than 180 people supporting operations on and offshore. This is since drilling the first well in in December 2021.<\/p>\n

\u201cDelivering a deep-water drilling campaign 250kms from shore requires the talents of many and its success is reliant on the welders, electricians, lab technicians, crane operators, drivers, pilots, chefs and cleaners from more than 60 Namibian companies,\u201d reads the Shell website.<\/p>\n

\u201cAt Shell we recognise the long-term potential an oil and gas industry could have to unlock Namibia\u2019s energy needs, provide training and employment and contribute to economic development. A 66% increase in jobs on the venture\u2019s drilling campaign, is of course positive and we and our contractors are committed to keeping this trend moving upwards at every stage of our operations,\u201d stated Shell Namibia\u2019s Country Chair, Adeleye Falade.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. FOLLOWING substantial discoveries of light oil in Namibia at the beginning of last year, global oil major, TotalEnergies now aims to significantly increase its shareholding in two deep-water exploration blocks in the Orange basin off the southern coast. If approved by regulators, TotalEnergies, in collaboration with its joint venture partner QatarEnergy, hope […]<\/p>\n","protected":false},"author":84,"featured_media":61722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,236,233],"class_list":["post-61723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nTotalEnergies wants bigger share of Namibian oil - Namibia<\/title>\n<meta name=\"description\" content=\"FOLLOWING substantial discoveries of light oil in Namibia at the beginning of last year, global oil major, TotalEnergies ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TotalEnergies wants bigger share of Namibian oil\" \/>\n<meta property=\"og:description\" content=\"FOLLOWING substantial discoveries of light oil in Namibia at the beginning of last year, global oil major, TotalEnergies ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-19T16:52:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-19T17:22:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/01\/sm_1705672161.600574.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"TotalEnergies wants bigger share of Namibian oil\",\"datePublished\":\"2024-01-19T16:52:37+00:00\",\"dateModified\":\"2024-01-19T17:22:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil\"},\"wordCount\":603,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/01\/sm_1705672161.600574.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/totalenergies-wants-bigger-share-of-namibian-oil\",\"name\":\"TotalEnergies wants bigger share of Namibian oil - 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