TotalEnergies, a global energy company, has recently entered into an agreement with Impact Oil and Gas Namibia (Pty) Ltd (“Impact”) to acquire additional participating interests in two blocks in Namibia. The company intends to share these interests with its strategic partner and joint venture member, QatarEnergy.
Upon the completion of the transactions, which are subject to customary third-party approvals, TotalEnergies will hold a 45.25% interest in block 2913B, where the Venus discovery is located, and a 42.5% interest in block 2912. Impact will retain a 9.5% interest in each license.
As part of the agreement, Impact will be reimbursed for its past costs through a $99 million payment upon closing. Furthermore, Impact will be carried for its remaining interests until it receives the first sales proceeds from hydrocarbon production. This arrangement is secured by a repayment mechanism based on Impact’s share of production.
Patrick Pouyanné, Chairman and Chief Executive Officer at TotalEnergies, expressed his optimism about the transaction, stating that it not only strengthens their position in the Venus discovery but also enhances the partnership and secures financing for all parties involved.
TotalEnergies’ Presence in Namibia
TotalEnergies has been operating in Namibia since 1964 and currently employs 55 people in the region. The company holds exploration licenses for Blocks 2912 and 2913B in the Orange basin, where their offshore activities take place. Additionally, TotalEnergies is the fourth-largest fuel distributor in the country, with 40 service stations. As part of its commitment to a multi-energy strategy, the company is actively seeking local opportunities to develop low carbon projects in Namibia.
TotalEnergies: Powering the Future
TotalEnergies is a global multi-energy company that is dedicated to producing and marketing a wide range of energy sources. From oil and biofuels to natural gas and green gases, as well as renewables and electricity, we are committed to providing affordable, sustainable, reliable, and accessible energy to as many people as possible. With a workforce of 100,000 employees, we operate in nearly 130 countries around the world. At TotalEnergies, we prioritize sustainable development across all our projects and operations, aiming to contribute to the well-being of people everywhere.
In this document, the terms “TotalEnergies,” “TotalEnergies company,” or “Company” refer to TotalEnergies SE and its consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Similarly, the words “we,” “us,” and “our” may also be used to denote these entities or their employees. It is important to note that the entities in which TotalEnergies SE holds a shareholding are separate legal entities, and TotalEnergies SE assumes no liability for their actions or omissions. The information and statements contained in this document may include forward-looking information based on economic data and assumptions made in a given economic, competitive, and regulatory environment. However, such information may prove to be inaccurate in the future and is subject to various risk factors. TotalEnergies SE and its subsidiaries do not have any obligation to publicly update any forward-looking information, objectives, or trends in this document, whether due to new information, future events, or otherwise. For information on the risk factors that may affect TotalEnergies’ financial results or activities, please refer to the most recent Registration Document filed by TotalEnergies SE with the Autorité des Marchés Financiers (AMF) and the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
View source version on businesswire.com: Link