QatarEnergy has entered into an agreement with TotalEnergies to acquire additional offshore exploration interests in the Orange Basin off the coast of Namibia, it said on Sunday.
The deal includes a 5.25% increase in QatarEnergy's stake in block 2913B and a 4.695% increase in block 2912, QatarEnergy said in a statement.
Under the agreement, QatarEnergy's stake in block 2913B will increase to 35.25%, while its stake in block 2912 will rise to 33.025%.
TotalEnergies remains the operator of both blocks, with other stakeholders including Impact Oil & Gas holding 9.5% and Namibia's state-owned Namcor holding 10% in block 2913B and 15% in block 2912.
(Reuters - Writing by Adam Makary; Editing by William Mallard)