TotalEnergies has signed agreements to acquire a 42.5% operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings and Maravilla Oil & Gas.
Following the signing of the deals, TotalEnergies will become 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 covers an area of approximately 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, 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 venture partners.
