London, UK --News Direct-- Africa Oil CorpAfrica Oil Corp (TSX:AOI) Investor Relations Manager Shahin Amini discusses the company's new partnership with TotalEnergies and Qatar Energy for the exploration of Block 3B/4B in the Orange Basin. Amini told Proactive's Stephen Gunnion the collaboration marks a significant endorsement of the block's exploration potential, leveraging the expertise and resources of these notable energy companies. The value derived from this deal for Africa Oil is estimated at $46.8 million, including $10 million in staged payments. Amini noted that the strategic partnership allows Africa Oil to explore with "other people's money," aligning with their business model of early basin entry, comprehensive geological assessment, and then attracting resourceful partners for exploration financing. Additionally, Africa Oil, through its investment in Impact Oil and Gas Limited, has exposure to another promising block in Namibia, highlighting the company's significant acreage position off Southern Africa's coast.

Source: The North Africa Journal March 08, 2024 16:08 UTC