Impact Oil & Gas is disposing of its South African exploration portfolio as part of a corporate restructuring that will transform the company into a Namibia-focused oil and gas business centred on the giant Venus discovery in the Orange Basin.
The company has entered into a share purchase agreement with IOG Energies, a wholly owned subsidiary of Deepkloof Limited, to transfer its entire shareholding in Impact Africa Limited, which holds Impact’s South African exploration licences and related assets.
Once the transaction is completed, Impact’s principal assets will be its 9.5% participating interest in offshore Blocks 2912 and 2913B in Namibia, which host the Venus light oil discovery operated by TotalEnergies.
Impact holds a 9.5% interest in the Venus discovery through its stakes in Blocks 2912 and 2913B offshore Namibia. Venus, discovered by TotalEnergies in 2022, is widely regarded as one of the most significant oil discoveries made globally in recent years and is expected to play a central role in Namibia’s emerging offshore petroleum industry.
The restructuring is designed to streamline the company’s portfolio and concentrate resources on developing Venus, one of the world’s largest recent offshore oil discoveries.
A final investment decision on the Venus field is expected in 2026, with first oil potentially targeted for 2030.
The transaction will also remove the costs associated with managing Impact’s South African exploration assets, allowing the company to focus capital allocation and technical resources on Namibia’s Orange Basin.
Impact will retain its approximately 20% shareholding in Africa Energy Corp., which is not included in the transaction.
The deal forms part of a broader effort by shareholders to create a pure-play Namibia-focused development and exploration company as activity in the Orange Basin accelerates toward commercial production.
Meren Energy, which holds an interest in Impact, said the restructuring strengthens its exposure to the Orange Basin while leaving its effective interest in the Venus project unchanged.
“By concentrating Impact’s resources on progressing Venus towards first oil, while streamlining its portfolio and cost base, there is a stronger alignment between Impact’s strategy and Meren’s investment objectives,” Meren president and chief executive officer Oliver Quinn said.
The transaction remains subject to regulatory approvals in South Africa and joint venture partner consents and is expected to close during the third quarter of 2026.
