Africa-Press – Namibia. TotalEnergies has signed agreements to acquire a 42.5% operated interest in the PEL104 exploration licence offshore Namibia from Eight Offshore Investments Holdings and Maravilla Oil & Gas.
Once the transaction is completed, TotalEnergies will operate the licence with a 42.5% interest, alongside Petrobras with 42.5%, Namcor with 10%, and Eight Offshore Investments Holdings with 5%.
The PEL104 licence is located in the Lüderitz Basin and covers about 11 000 square kilometres offshore Namibia.
“After the acquisition in December of a 40% operated interest in the PEL83 licence, TotalEnergies further strengthens its position in Namibia by entering this new exploration licence 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,” said Nicolas Terraz, president of exploration and production at TotalEnergies.
The transaction remains subject to the required approvals from Namibian authorities and joint venture partners.
Last month, TotalEnergies chairperson and chief executive officer Patrick Pouyanné and Galp chairperson Paula Amorim met with President Netumbo Nandi-Ndaitwah to reaffirm their long-term commitment to Namibia and to provide an update on progress and next steps linked to their offshore partnership in the Orange Basin.
The meeting followed an agreement under which TotalEnergies will become operator of Petroleum Exploration Licence 83, home to the Mopane discoveries, while Galp will enter PEL56 and PEL91, which host the Venus discovery.
During the meeting, TotalEnergies and Galp expressed confidence in Namibia’s future as an oil- and gas-producing country.
They reaffirmed their commitment to the responsible development of the country’s energy resources, value creation across the economy and cooperation with government institutions.
The companies briefed the Presidency on the transaction and the transition of operatorship.
They highlighted expected benefits in employment, skills development and local industry participation, and stressed the need for continued regulatory support as projects move into the next phases.
For the Venus project, partners are working to meet the conditions required for a possible final investment decision in 2026.
At Mopane, an exploration and appraisal campaign of three wells is planned to start in 2026 to improve understanding of the resources and advance the project towards development.
Source: observer24
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