QATARENERGY has deepened its involvement in Namibia’s Orange Basin by acquiring additional stakes in two exploration blocks, in a deal with France’s TotalEnergies. The state-owned Qatari energy giant will increase its interests to 35.25 percent in block 2913B and 33 percent in block 2912, subject to regulatory approvals.
These blocks are located about 300 kilometres off the Namibian coast in water depths ranging from 2,600 to 3,800 metres. While financial details of the agreement remain undisclosed, this strategic move underscores QatarEnergy’s ambitions to expand its exploration and production portfolio globally.
Key stakeholders
Post-acquisition, TotalEnergies, the operator of the blocks, will retain 45.25 percent in block 2913B and 42.5 percent in block 2912. Impact Oil & Gas, headquartered in London, holds 9.5 percent stakes in both blocks, while Namibia’s state-owned National Petroleum Corporation (Namcor) owns 10 percent in block 2913B and 15 percent in block 2912.
QatarEnergy’s strategic global expansion
This development is part of QatarEnergy’s broader strategy to enhance its global energy footprint. Earlier in November, the company announced plans to acquire a 23 percent stake in an offshore exploration block in Egypt from Chevron.
QatarEnergy’s commitment to diversifying its portfolio is evident as it actively participates in some of the world’s most promising hydrocarbon basins. In Namibia, where recent offshore discoveries have drawn global attention, the Orange Basin is emerging as a key hotspot for energy exploration.
Regional impact and prospects
The move highlights growing international interest in Namibia’s offshore resources. With its proximity to significant discoveries and deepwater potential, the Orange Basin has become a magnet for major energy players.
Namibia, through partnerships like this, positions itself as a rising star in Africa’s energy landscape, leveraging its natural resources while ensuring local participation through Namcor.
As the world navigates the energy transition, QatarEnergy’s investments reflect its dual focus on expanding traditional oil and gas operations while supporting renewable energy ventures, such as its solar projects in Iraq and elsewhere.
QatarEnergy’s growing involvement in offshore Namibia signals not just its confidence in the region’s hydrocarbon potential but also a calculated move to secure its place among the global energy elite. With regulatory approvals pending, this deal is set to enhance both Qatar’s energy influence and Namibia’s emerging role in the international energy sector.
