TOTALEnergies has signed agreements to acquire a 42.5% operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings and Maravilla Oil & Gas.
Upon completion of the transaction, the French major will be the operator of the license holding a 42.5% interest alongside Petrobras (42.5%), Namcor (10%) and Eight (5%).
Located in the Lüderitz basin, PEL104 license covers an area of around 11,000square kilometres ((km2 ) offshore Namibia.
“After the acquisition in December 2025, of a 40% operated interest in PEL83 license, TOTALEnergies further strengthens its position in Namibia by entering this new exploration license as operator”, the company says in a statement.
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, TOTAL’s President Exploration & Production.
Completion of the transaction is subject to customary third party approvals from the Namibian authorities and joint ventures partners.
