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TotalEnergies, QatarEnergy expand Orange Basin holdings to South Africa
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Reuters 06/03/2024
TotalEnergies and Qatar's oil company on Wednesday said they would buy a stake in a licence to seek oil and gas off South Africa as part of their plans to develop the Orange basin area in neighbouring Namibia.
The French company will buy a 33% stake in the licence to drill in offshore block 3B/4B, which extends over about 18,000 square kilometres, while state-owned QatarEnergy will hold a 24% stake, the two companies said without disclosing the value of the deal.
