Block 3B/4B spans 17,581km² in the Orange Basin with water depths ranging from 300m to 2,500m and is positioned southeast and on trend with several oil discoveries, including the Venus discovery.

Under the terms of the Agreement, upon a further farm out to a third party into Block 3B/4B Eco will receive a further payment of US$4m from Africa Oil and when the first well is spud an ...

The remaining interests in Block 3B/4B will be comprised of 33% held by TotalEnergies, 24% held by QatarEnergy, 19.75% held by Ricocure, and 6.25% held by Eco.

Under the deal, Azinam has transferred a 1.0% interest in Block 3B/4B to Africa Oil. In consideration, Africa Oil has exchanged the shares and warrants that it held in Eco for cancellation.