Total Buys Into South African Oil Block Near Namibia Discoveries
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TotalEnergies SE agreed to buy an operating interest in a South African oil block following significant discoveries off neighboring Namibia.
The French major will hold a 33% stake in Block 3B/4B, southeast of Namibian finds made by Total and Shell Plc in 2022, according to a statement. Since then, multiple exploration rigs have headed to the area’s Atlantic waters.