(WO) – TotalEnergies has signed agreements to acquire a 42.5% operated interest in the offshore PEL104 exploration license in Namibia, further expanding its upstream footprint in the country’s emerging deepwater province.
Upon completion of the transaction, TotalEnergies will operate the block with a 42.5% stake alongside Petrobras (42.5%), Namcor (10%) and Eight Offshore Investments (5%). The license covers roughly 11,000 sq km in the Lüderitz basin offshore southern Namibia.
The move adds to TotalEnergies’ growing presence in Namibia following its recent acquisition of an operated interest in PEL83 and ongoing appraisal and development planning across major discoveries in the Orange basin. The company is advancing work toward potential development of the Venus discovery while continuing exploration and appraisal activities in adjacent licenses, including Mopane.
TotalEnergies said the new operatorship will allow it to apply its deepwater exploration expertise to evaluate additional prospectivity in the Lüderitz basin as Namibia continues to attract global investment following a series of significant offshore discoveries in recent years.
Completion of the PEL104 transaction remains subject to customary approvals from Namibian authorities and joint venture partners.
