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French energy giant TotalEnergies has signed an agreement to acquire participating interests in another gas exploration block off the west coast of South Africa.
The acquisition, from Africa Oil South Africa, expands the French energy company's exploration activities on the Orange Basin in South African waters where it already owns the DWON block with QatarEnergy.
TotalEnergies said on Wednesday it will own a third of participating interests and operate Block 3B/4B, while Qatar's state-owned oil company will hold a 24% share. Current licence holders Africa Oil SA, which is part-owned by the JSE-listed Hosken Consolidated Investments, will hold 17% while Ricocure will own a fifth. The remaining 6.25% interest is held by Canada's Eco Atlantic Oil & Gas.
