TotalEnergies has signed agreements to acquire a 42.5 per cent operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings (“Eight”) and Maravilla Oil & Gas.
Upon completion of the
transaction, TotalEnergies will be the operator of the license holding a 42.5 per cent interest
alongside Petrobras (42.5 per cent), Namcor (10 per cent) and Eight (5 per cent).
Located in the
Lüderitz basin, PEL104 license covers an area of around 11,000 km2 offshore
Namibia.
“After the acquisition
in December of a 40 per cent operated interest in PEL83 license,
TotalEnergies further strengthens its position in Namibia by entering this new
exploration license 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”, stated Nicolas
Terraz, President Exploration & Production at TotalEnergies.
Completion of the
transaction is subject to customary third-party approvals from the Namibian
authorities and joint ventures partners. -OGN/TradeArabia News Service
