TotalEnergies has signed agreements to acquire a 42.5% operated interest in the PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings and Maravilla Oil & Gas.
Upon completion of the transaction, TotalEnergies will be the operator of the license holding a 42.5% interest alongside Petrobras (42.5%), Namcor (10%) and Eight (5%).
Located in the Lüderitz basin, PEL104 license covers an area of around 11,000 km2 offshore Namibia.
'After the acquisition in December of a 40% operated interest in PEL83 license, TotalEnergies further strengthens its position in Namibia by entering this new exploration license as operator. While progressing towards the development of Venus and Mopane discoveries, we are very pleased to expand our portfolio and continue exploring the prolific resources of Namibia, in order to unlock further value that will benefit the country and all stakeholders', stated Nicolas Terraz, President Exploration & Production at TotalEnergies.
Completion of the transaction is subject to customary third party approvals from the Namibian authorities and joint ventures partners.
About TotalEnergies in Namibia
TotalEnergies has been present in Namibia since 1964 and employs 55 people. TotalEnergies is also the 4th largest fuel distributor in the country, with 43 service stations. In line with its multi-energy strategy, the Company is looking for local opportunities to develop low carbon projects in the country.
Source: TotalEnergies
