Impact Oil & Gas has agreed to restructure its business by separating its Namibian and South African assets into different entities.
The company signed a share purchase agreement with IOG Energies, a fully owned subsidiary of Deepkloof, which is Impact Oil & Gas’s majority shareholder. Meren Energy, the company’s second-largest shareholder, also supports the deal.
Under the agreement, Impact Oil & Gas will transfer all shares in its wholly owned subsidiary, Impact Africa Limited (IAL), along with related assets, to IOG Energies.
IAL holds a 45% interest in the Transkei & Algoa blocks under Exploration Right 12/3/252, located offshore along South Africa’s east coast.
The subsidiary also fully owns Area 2 under Exploration Right 12/3/276. However, 10% of the license remains subject to a deed of assignment involving Silver Wave Energy, IAL’s joint venture partner that previously held the stake.
IAL also owns a 22% interest in the Orange Basin Deep block under Exploration Right 12/3/335 off South Africa’s west coast.
Once the transaction is completed, Impact Oil & Gas will mainly retain its 9.5% participating interest in Block 2912 under Petroleum Exploration License 91 and Block 2913B under Petroleum Exploration License 56. The company holds these interests through its subsidiary, Impact Oil and Gas Namibia.
These offshore Namibian blocks include the Venus oil field discovery.
Block 2913B spans 8,215 km² in water depths reaching 3,000 m. Through its subsidiary, Impact Oil & Gas owns 9.5% alongside TotalEnergies with 45.25%, QatarEnergy with 35.25%, and NAMCOR with 10%.
Block 2912 sits next to and beyond PEL 56, covering 7,884 km² offshore. Impact Oil & Gas, TotalEnergies, QatarEnergy, and NAMCOR all hold interests in the block.
Impact Oil & Gas said it will focus on moving the Namibian licenses toward a final investment decision and first oil production in partnership with TotalEnergies, QatarEnergy, and NAMCOR.
The company still needs approval from South African regulators and relevant joint venture partners before completing the reorganization.
Although the ownership structure will change, the current management team and staff will continue leading both Impact Oil & Gas and IOG Energies.
Impact Oil & Gas CEO Siraj Ahmed said the restructuring marks an important step for the company and will help secure funding through to first oil from the Venus Field development while creating room to attract investment into the South African assets.
He added that the new structure aligns shareholder interests and allows the experienced team to maximize value from Namibia ahead of first oil while continuing to manage the South African exploration assets efficiently through a separate structure.
Impact Oil & Gas currently operates across roughly 15,000km², with most of its activities focused in Namibia.
The company holds a 9.5% interest in the Venus oil field, operated by TotalEnergies. Partners expect a final investment decision on the estimated 750 million barrel project in the first half of 2026.
source: www.offshore-technology.com
African Energy Council