Africa-Press. Namibia’s Ministry of Industry, Mines and Energy said it was not notified in advance of a transaction in which France’s TotalEnergies and Brazil’s Petrobras acquired stakes in an offshore oil exploration licence, raising questions over the deal’s future.
In a statement issued on Sunday, the ministry said the law requires prior ministerial approval before any transfer or acquisition of interests in petroleum licences. It added that it had received no official notification and learned of the deal only minutes before it was announced.
Brazil’s state-run Petrobras said on Friday it had acquired a 42.5% stake in the offshore exploration licence. TotalEnergies obtained the same 42.5% stake and will serve as the operator. The value of the deal was not disclosed in the financial filing.
Petrobras said the move marks its return to the Namibian market and aligns with its 2026–2030 strategic plan aimed at opening new exploration opportunities in Africa to replenish reserves. The company stressed that the transaction fits its long-term strategy to expand exploration activities and ensure the sustainability of its resources.
The ministry, however, insisted that any deal of this kind must go through official channels and receive prior approval, casting doubt on whether the agreement can be completed. The stance also reflects broader foreign investor concerns about Namibia’s energy-sector business environment and raises questions about the clarity of the country’s regulatory procedures.
