Hosken Consolidated Investments (HCI) is restructuring its offshore oil and gas exposure through its majority stake in Impact Oil and Gas, separating its South African exploration assets from its Namibian portfolio.The JSE-listed investment company, which holds a controlling interest in Impact through Deepkloof, said on Tuesday the group will be split into two parts: one focused on Namibia’s offshore development projects and another holding South Africa’s exploration rights.Deepkloof serves as HCI’s investment vehicle for upstream energy and resource assets, and is the entity through which the group participates in Impact Oil and Gas.Impact Oil and Gas is a UK-based exploration company with interests in offshore oil and gas projects in West and Southern Africa. It does not produce oil itself, but instead holds stakes in early-stage exploration projects alongside larger international energy companies that operate and develop the assets.Under the restructuring, Impact’s South African oil and gas interests will be transferred into a newly created company, IOG Energies, which will sit under Deepkloof. The transaction also involves Meren Energy, Impact’s second-largest shareholder.The South African portfolio includes three offshore exploration areas: the Orange Basin Deep block off the country’s west coast in the Atlantic Ocean; the Transkei and Algoa blocks along the south-east coastline in the Eastern Cape offshore region; and the Area 2 licence further north along the east coast offshore corridor. These assets include partnerships with TotalEnergies, Shell and QatarEnergy.After completion, Impact will retain its Namibian portfolio, including a 9.5% interest in offshore blocks containing the Venus discovery.The Venus development, operated by TotalEnergies alongside QatarEnergy and Namcor, Namibia’s national oil company, is progressing toward a final investment decision expected this year.Impact said the restructuring separates its near-development Namibian assets from its South African exploration portfolio, which remains at an earlier stage and would require different funding approaches.The South African assets will sit in a separate structure under Deepkloof, giving HCI more direct exposure to those exploration rights.The company said both businesses will continue to be managed by the same technical team under a management services agreement.Completion of the transaction remains subject to regulatory approvals in South Africa and consent from joint venture partners.Business Day