TotalEnergies and Brazil’s Petrobras have secured new offshore exploration acreage in Namibia’s Lüderitz Basin, extending their presence near the giant Mopane oil discovery that has intensified global interest in the country’s offshore sector. The companies will each hold a 42.5% stake in the PEL104 licence, with TotalEnergies serving as operator, Reuters reported.
The licence spans roughly 11,000 square kilometres offshore and was acquired from Maravilla Oil & Gas and Eight Offshore Investment Holdings. Namibia’s state oil firm Namcor will retain a 10% interest, while Eight Offshore will hold the remaining 5%, details confirmed in a statement issued by TotalEnergies.
The move builds on TotalEnergies’ growing Namibian portfolio, which includes the adjacent PEL83 block that hosts the Mopane discovery, estimated to contain more than 10 billion barrels of oil in place. The company has also made the nearby Venus discovery, developments that have positioned Namibia as one of the world’s most promising offshore exploration frontiers, as outlined in company disclosures cited by MarketScreener.
For Petrobras, the acquisition marks a renewed push into offshore Africa as part of its strategy to diversify exploration beyond Brazil. The company has pointed to geological similarities between Namibia’s offshore basins and Brazil’s pre-salt fields, underlining the long-term appeal of the acreage as Namibia advances toward potential commercial production, Reuters added.
