TotalEnergies acquires PEL104 license in Namibia

TotalEnergies has signed agreements to acquire a 42.5% operated interest in the PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings and Maravilla Oil & Gas. Upon completion, TotalEnergies will operate the license alongside Petrobras (42.5%), Namibia===National Petroleum Corporation of Namibia (10%), and Eight Offshore Investments Holdings (5%). This acquisition, following a previous one in December for the PEL83 license, strengthens TotalEnergies' position in Namibia's Lüderitz basin, covering approximately 11,000 km2. Nicolas Terraz, President Exploration & Production at TotalEnergies, stated that this move expands their portfolio and allows them to continue exploring Namibia's prolific resources, aiming to unlock further value for the country and stakeholders. The transaction is subject to approvals from Namibian authorities and joint venture partners.