TotalEnergies has secured a 42.5% operated interest in the 11,000‑km² PEL104 license in Namibia’s Lüderitz basin, becoming the operator of the block. The stake is held jointly with Petrobras (42.5%), Namcor (10%) and Eight Offshore Investments (5%). The transaction was signed on February 6, 2026.
The deal builds on TotalEnergies’ existing presence in Namibia, where it holds a 40% operated interest in the PEL83 license acquired in December. The company has been active in the country since 1964 and now positions itself to develop the Venus and Mopane discoveries that have attracted global attention.
By taking operator control, TotalEnergies gains full authority over exploration decisions and the ability to accelerate development of the block. The move supports the company’s strategy to build a low‑cost, low‑emission upstream portfolio and to expand in high‑potential offshore basins. Management noted that the acquisition “further strengthens TotalEnergies’ position in Namibia and allows us to continue exploring the prolific resources of the region.”
The transaction is subject to customary approvals from Namibian authorities and the joint‑venture partners. While the financial terms were not disclosed, the acquisition is part of TotalEnergies’ broader plan to deliver robust production growth of more than 3% per year in 2025 and 2026, driven by new projects and acquisitions.
The company also announced a restart of construction on its Mozambique LNG project, which had been suspended due to security concerns, underscoring its commitment to large‑scale energy projects in Africa. The partnership with Petrobras further strengthens strategic alliances and positions TotalEnergies to capitalize on Namibia’s emerging frontier.
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