South Africa: TotalEnergies Expands Its Presence in the Orange Basin With a New Offshore Exploration License
06 March 2024 - 6:25PM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed,
together with its partner QatarEnergy, an agreement to acquire
participating interests in Block 3B/4B, offshore South Africa, from
Africa Oil South Africa, Azinam (a wholly owned subsidiary of Eco
Atlantic Oil and Gas) and Ricocure.
Following completion of the transaction, TotalEnergies will hold
a 33% participating interest in Block 3B/4B and assume
operatorship, while QatarEnergy will hold a 24% interest.
The remaining interests will be held by existing license
holders, Africa Oil SA (17%), Ricocure (19.75%) and Azinam (6.25%).
The transaction is subject to final approvals from relevant
authorities.
Located within the prolific Orange basin, 200 km off the western
coast of South Africa, Block 3B/4B covers an area of 17,581 km2.
Block 3B/4B is adjacent to the DWOB license operated by
TotalEnergies (50%) alongside QatarEnergy (30%) and Sezigyn
(20%).
“Following the Venus success in Namibia, TotalEnergies is
continuing to progress its Exploration effort in the Orange Basin,
by entering this promising exploration license in South Africa”,
said Kevin McLachlan, Senior Vice-President Exploration of
TotalEnergies.
***
About TotalEnergies in South Africa TotalEnergies has
been present in South Africa since 1954, when it started
distributing petroleum products. Today the company is a leading
player in Renewables, Fuel Marketing & Services, Lubricant
Blending, Refining and Exploration & Production. For more than
fifty years we have been committed to the energy development of
South Africa. Through a diverse portfolio, TotalEnergies boasts a
network of 550 retail sites, LPG distribution nationwide for all
domestic energy needs, solar and wind renewable energies, including
the Prieska solar power plant, which has been supplying more than
70,000 homes with electricity since 2016. TotalEnergies will also
develop a 120 MW solar plant and a 140 MW wind farm in the Northern
Cape province to supply green electricity to the Sasol’s Secunda
site, where Air Liquide operates the biggest oxygen production site
in the world. Notably, 260 MW is equivalent to a quarter of an
average nuclear power plant, and lastly TotalEnergies in South
Africa, through its EP segment and together with its various joint
venture partners, holds Exploration Rights over four offshore
Blocks: Block 5/6/7 (south-west coast), Block Deep Water Orange
Basin (west coast), Orange Basin Deep (west coast), Outeniqua South
(south coast) for exploration & well drilling of hydrocarbon,
and has applied for a Production Right (PR) over Block 11B/2B
(south coast).
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, more sustainable, more reliable and
accessible to as many people as possible. Active in nearly 130
countries, TotalEnergies puts sustainable development in all its
dimensions at the heart of its projects and operations to
contribute to the well-being of people.
@TotalEnergies - TotalEnergies - TotalEnergies
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Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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