Cape Town-based iMbokodo E&P is in talks to acquire a stake in an exploration block in the Orange basin close to huge oil discoveries made in Namibia by Shell and TotalEnergies, while also eyeing the potential of a nascent gas and helium play in South Africa.

The privately owned junior player, backed by Hong Kong-based Meridian Capital, was formed in 2018 as a black economic empowerment vehicle, headed by women and with the aim of helping disadvantaged South Africans benefit from upstream activities.