The French oil and gas supermajor, which operates both assets, will now own a 45.25% stake in block 2913B containing the Venus oilfield discovery, and a 42.5% stake in block 2912, it said on Wednesday (January 10).
“This transaction not only increases our share in the Venus discovery and remaining prospectivity on these blocks, but also represents a key step toward the development of Venus by consolidating the partnership and securing financing of all partners which will add value to all stakeholders,” said
Impact, a privately-owned,
On completion of this transaction, Impact will hold a 9.5% interest in each block. The explorer will also be reimbursed in cash for its share of the past costs incurred on the Blocks, net to the farmout interests, which is estimated to be approximately
“This is a pivotal transaction for Impact that paves the way for its transition from an exploration company to a hydrocarbon producing company, through its participation in the development of the world class Venus discovery,” commented
“This transaction also enables Impact to participate in further significant exploration opportunities in the Blocks, offering the potential to significantly grow the existing discovered resource base. We are delighted to be able to continue in this exciting journey with TotalEnergies.”
Block 2913B
Petroleum Exploration Licence 56, Block 2913B, is located offshore southern
Block 2912
Petroleum Exploration Licence 91, Block 2912, is located offshore southern
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