TotalEnergies to buy 42.5% stake in Namibia’s PEL104 licence

TotalEnergies has agreed to bargain a 42.5% operated involvement successful Namibia’s PEL104 offshore exploration licence from Eight Offshore Investments Holdings (Eight) and Maravilla Oil & Gas.

The acquisition volition marque TotalEnergies the relation of the PEL104 licence, which spans astir 11,000km² successful the Lüderitz basin.

Following the completion of the transaction, which remains taxable to regulatory approvals from Namibian authorities and associated task partners, the ownership operation volition comprise TotalEnergies (42.5%), Namcor (10%) and Eight (5%).

TotalEnergies exploration and accumulation president Nicolas Terraz said: “After the acquisition successful December of a 40% operated involvement successful PEL83 licence, TotalEnergies further strengthens its presumption successful Namibia by entering this caller exploration licence arsenic operator.

“While progressing towards the improvement of Venus and Mopane discoveries, we are precise pleased to grow our portfolio and proceed exploring the prolific resources of Namibia, successful bid to unlock further worth that volition payment the state and each stakeholders.”

TotalEnergies has operated successful Namibia since 1964 and presently employs 55 radical there. The institution is said to beryllium the fourth-largest substance distributor successful Namibia with 43 work stations.

TotalEnergies is besides seeking section opportunities for low-carbon vigor projects arsenic portion of its broader multi-energy strategy.

Globally, TotalEnergies operates successful astir 120 countries, producing and selling biofuels, biogas, electricity, low-carbon hydrogen, earthy gas, lipid and renewables. The institution employs much than 100,000 radical worldwide.

In January 2026, TotalEnergies and Mozambique announced the resumption of onshore and offshore operations astatine Mozambique LNG aft the unit majeure declared successful 2021 was lifted by the liquefied earthy state consortium successful November 2025.

"TotalEnergies to bargain 42.5% involvement successful Namibia’s PEL104 licence" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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