07:10 AM EDT, 07/29/2024 (MT Newswires) -- Africa Energy ( HPMCF ) earlier on Monday said TotalEnergies EP South Africa B.V. and QatarEnergy International E&P will withdraw from their 45% and 25% interest, respectively, from Block 11B/12B operations off the Republic of South Africa.

As previously announced on July 1, CNR International (South Africa) also said they were withdrawing from their 20% interest in Block 11B/12B. Under the agreement, the withdrawing parties assign their interest free of charge to each of the non-withdrawing partners.

Africa Energy ( HPMCF ), through its investment in Main Street 1549., which currently holds a 10% interest in Block 11B/12B, does not intend to withdraw. "Despite the challenges and delays encountered so far, the company remains confident that the Block 11B/12B resources can be commercially developed."

Subject to regulatory approvals, Main Street 1549 expects to hold 100% interest in Block 11B/12B.