QatarEnergy Expands with Offshore Investment in Namibia

QatarEnergy has enhanced its global portfolio by increasing its stake in two offshore blocks in Namibia’s Orange Basin through a new deal with TotalEnergies.

QatarEnergy will acquire an additional 5.25% in block 2913B and 4.7% in block 2912, raising its share to 35.25% and 33.025%, respectively. The deal is subject to customary approvals.

Saad Sherida Al-Kaabi, Qatar’s energy minister, expressed satisfaction with expanding the Kingdom’s presence in Namibia’s energy sector, particularly in the promising Venus discovery on block 2913B.

TotalEnergies will retain majority stakes, while other partners include Impact Oil & Gas and the National Petroleum Corp. of Namibia.

This acquisition complements QatarEnergy’s move into renewables, such as its 50% stake in TotalEnergies’ solar project in Iraq, reinforcing its balanced approach to both traditional and clean energy investments.