TotalEnergies and QatarEnergy withdraw from Block 11B/12B offshore South Africa due to economic challenges.
TotalEnergies and QatarEnergy have announced their withdrawal from their 45% and 25% interests, respectively, in Block 11B/12B offshore South Africa, citing economic challenges. TotalEnergies entered the block in 2013 and made two gas discoveries, Brulpadda and Luiperd, but could not turn them into a commercial development due to the challenges of economically developing and monetizing the gas finds for the South African market. Qatar Petroleum, another partner with a 25% stake, also announced its intention to exit the project.
July 29, 2024
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