TotalEnergies, Petrobras take majority stakes in offshore Namibia license
TotalEnergies has signed an agreement to acquire 42.5% interests in the PEL104 exploration license in the Lüderitz Basin offshore Namibia.
The sellers are Eight Offshore Investments Holdings and Maravilla Oil & Gas.
Upon completion of the transaction, TotalEnergies will be operator, with the remaining partners being Petrobras (42.5%), state-owed NAMCOR (42.5%) and Eight (5%).
The license covers an 11,000-sq-km area.
Recently, TotalEnergies strengthened its position in the Orange Basin, giving it operatorship of Galp’s giant Mopane discovery.
Petrobras said the farm-in represented a return for the company into exploration offshore Namibia.