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HOUSTON, TEXAS - DECEMBER 07: A person stands near the Qatar Energy section at an exhibition during the 23rd World Petroleum Congress conference at the George R. Brown Convention Center on December 07, 2021 in Houston, Texas. The 23rd World Petroleum Congress returned to the United States for the first time in over 30 years.(Photo by Brandon Bell/Getty Images). Image used for illustrative purpose.
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.
(Writing by Adam Makary; Editing by William Mallard)
