TotalEnergies to buy 42.5% stake in Namibia’s PEL104 licence

TotalEnergies has agreed to buy a 42.5% operated interest in Namibia’s PEL104 offshore exploration licence from Eight Offshore Investments Holdings (Eight) and Maravilla Oil & Gas. The acquisition will make TotalEnergies the operator of the PEL104 licence, which spans approximately 11,000km² in the Lüderitz basin. Following the completion of the transaction, which remains subject to regulatory approvals from Namibian authorities and joint venture partners, the ownership structure will comprise TotalEner ...