The Namibian Government has expressed concern over a joint announcement by TotalEnergies and Petrobras regarding the acquisition of equity interests in an offshore petroleum exploration licence, stating that it was not notified in advance as required by law.
In a statement issued on Sunday, the Ministry of Industries, Mines and Energy said it was informed only minutes before the public announcement that the French energy major and Brazil’s state-owned oïl company had each acquired a 42.5 per cent stake in Petroleum Exploration Licence 104 (PEL 104). The interests were transferred from Maravilla Oil and Gas and Eight Offshore Investments Holdings.
The ministry stressed that under Namibia’s Petroleum (Exploration and Production) Act, any transfer, assignment or acquisition of participating interests in a petroleum licence requires prior ministerial approval.
It underscored expectations that all sector players adhere strictly to the country’s legal and regulatory frameworks. PEL 104 is located offshore in the Orange Basin, a frontier area that has drawn heightened international attention following a series of oil and gas discoveries. Namibia’s national oil company, Namcor, is also a partner in the licence, and authorities noted that the transaction remains subject to regulatory approval.
Covering about 11,000 square kilometres in the Luderitz Basin, the block further expands TotalEnergies’ presence in Namibia, reinforcing the country’s growing strategic significance in global offshore Energy investment.