Upon completion of the transaction, TotalEnergies will be the operator of the license and will hold a 42.5% stake alongside Petrobras (42.5%), Namcor (10%) and Eight (5%).
Located in the Lüderitz Basin, the PEL104 license covers an area of approximately 11,000 km 2 off the coast of Namibia.
“After the acquisition in December of an operating interest of 40% in PEL83 license TotalEnergies further strengthens its position in Namibia by entering into this new exploration permit as operator. As we progress towards the development of Venus and Mopane discoveries, we are very pleased to expand our portfolio and continue to explore Namibia’s prolific resources, unlocking further value that will benefit the country and all stakeholders,” said Nicolas Terraz, president of exploration and production at TotalEnergies.
Completion of the transaction is subject to customary third party approvals from the Namibian authorities and joint venture partners.
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About TotalEnergies in Namibia
TotalEnergies has been present in Namibia since 1964 and has 55 employees. TotalEnergies is also the 4 e largest fuel distributor in the country, with 43 filling stations. In line with its multi-energy strategy, the company is looking for local opportunities to develop low-carbon projects in the country.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, affordable and sustainable. TotalEnergies is active in approximately 120 countries and places sustainability at the core of its strategy, its projects and its activities.
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