TotalEnergies Secures New Offshore License to Expand Operations in Namibia

　　TotalEnergies has signed an agreement to acquire a 42.5% operated interest in Namibia’s offshore PEL104 exploration license from Eight Offshore Investment Holdings and Maurel & Prom. Upon completion of the transaction, the French energy giant will assume operatorship of the block. Partners include Petrobras, which also holds a 42.5% interest, Namibia’s national oil company Namcor with a 10% stake, and Eight Offshore Investment Holdings retaining a 5% interest.

　　The PEL104 block is located in the Lüderitz Basin offshore southern Namibia and covers an area of approximately 11,000 square kilometers. The transaction is subject to standard regulatory approvals from Namibian authorities and joint venture partners.

　　This move continues TotalEnergies’ active expansion strategy in Namibia; the company had already acquired a 40% operated interest in the adjacent PEL83 block in December. In recent years, Namibia’s offshore region has seen multiple significant oil and gas discoveries, including TotalEnergies’ own Venus field and the Mopane field operated by a partner, positioning the country as one of the world’s most promising emerging offshore exploration hotspots.

　　By adding the PEL104 block to its portfolio, TotalEnergies further strengthens its operatorship and geological exploration footprint across multiple basins, enabling it to leverage shared infrastructure, subsurface exploration technology, and synergistic effects to advance its business. While the Lüderitz Basin is less explored than the Orange Basin to the north, its outlook is widely regarded as promising; if exploration success mirrors that of neighboring blocks, considerable resource growth could follow.

　　This collaboration with Petrobras also highlights the growing international interest in Namibia’s offshore exploration potential, as global output from mature traditional basins declines and major oil and gas companies actively seek to replenish reserves. For Namibia, continued upstream investment will help realize its long-term vision of becoming a significant oil-producing nation, while also boosting fiscal revenues, creating jobs, and driving local industry development.

　　TotalEnergies has operated in Namibia for decades, with a comprehensive downstream presence and ranking among the country’s largest fuel distributors. The company also expressed intentions to develop low-carbon and integrated energy projects locally, aligning with its global strategy while continuing to prioritize high-value upstream exploration opportunities.

　　Namibia continues to attract the attention of global energy investors, and this PEL104 block transaction further consolidates TotalEnergies’ leading position as an offshore operator in the country’s exploration sector.

Editor: Li Zhaofu