QatarEnergy expands offshore in Namibia, enhancing its worldwide presence.

QatarEnergy has bolstered its portfolio by signing an agreement with TotalEnergies to increase its ownership stakes in two offshore blocks in Namibia’s Orange Basin.

As detailed in a press release, Qatar’s state-owned energy company will acquire an additional 5.25% stake in block 2913B and 4.7% in block 2912, pending customary regulatory approvals. Upon completion, QatarEnergy shares in these licenses will rise to 35.25% for block 2913B and 33.025% for block 2912.

Commenting on the deal, Saad sherida Al-kaabi , Qatar’s minister of state for energy affairs and CEO of QatarEnergy , stated: “We are delighted to expand QatarEnergy’s presence in Namibia’s upstream sector. This agreement represents a key step in collaborating with our partners to develop the Venus discovery in block 2913B.”

TotalEnergies , the operator of both blocks, will maintain a 45.25% stake in block 2913B and 42.475% in block 2912. Other stakeholders include Impact Oil & Gas, which holds 9.5% in both blocks, and the National Petroleum Corp. of Namibia, which owns 10% in block 2913B and 15% in block 2912.

Located approximately 300 km off Namibia’s coast, in water depths of 2,600 to 3,800 meters, the blocks are home to the Venus discovery—a significant find poised to shape Namibia’s energy landscape.

This acquisition aligns with QatarEnergy broader strategy, complementing its renewable energy investments. In October, the company secured a 50% stake in TotalEnergies’ 1.25-gigawatt solar project in Iraq.

Part of Iraq’s $27 billion Gas Growth Integrated Project, the solar initiative aims to enhance the nation’s energy self-sufficiency, reduce its reliance on electricity imports, and minimize environmental impacts. The project, featuring 2 million bifacial solar panels, will generate up to 1.25 GW of renewable energy, powering around 350,000 homes in Basra. QatarEnergy and TotalEnergies will share equal ownership of the project.

By diversifying its investments across fossil fuels and renewables, QatarEnergy underscores its commitment to meeting global energy demands while advancing sustainability. Its ventures in Namibia and Iraq reflect a balanced portfolio blending traditional and clean energy solutions.

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