Impact Oil & Gas Finalizes Offshore Namibia Stake Sale to TotalEnergies for $99 Million.
Impact Oil & Gas has successfully completed the farm-out of its interests in blocks 2912 and 2913B offshore Namibia to TotalEnergies. The transaction, which includes a $99 million cash payment to Impact, covers its share of costs incurred on these blocks before January 1.
This strategic move comes as Impact Oil & Gas and TotalEnergies, alongside other partners, work to explore and develop Namibia’s offshore resources. The DeepSea Mira semisubmersible drilling rig recently initiated operations on the Tamboti-1X exploration well in the northern section of Block 2913B, marking a key phase in exploring the area’s oil potential.
Africa Oil, a stakeholder in Impact Oil & Gas, is set to increase its shareholding to 39.5%, which will indirectly give it a 3.8% interest in the two blocks. TotalEnergies, which made the initial discovery of the substantial Venus oil field within Block 2913B in 2022, has continued to explore and appraise the area with four additional wells, successfully confirming the potential of the Venus field.
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With planning underway for the first development area, partners aim to reach a final investment decision by the end of 2025. To further assess prospects in the region, two 3D seismic acquisition programs were completed this year, covering the southern and northern parts of the blocks. The seismic data are now being processed and analyzed to identify additional exploration opportunities in the northern and southern reaches of these blocks.
