TotalEnergies acquires 42.5% stake in Namibian offshore license
#TotalEnergies #Namibia #Offshore Oil #Lüderitz basin #PEL104 #Petrobras #Energy Exploration
📌 Key Takeaways
- TotalEnergies acquired a 42.5% operated stake in Namibia's PEL104 offshore exploration license.
- The license covers 11,000 square kilometers in the resource-rich Lüderitz basin.
- The French firm will partner with Petrobras, Namcor, and Eight Offshore Investments Holdings.
- This deal follows a similar acquisition of the PEL83 license in December as part of a regional expansion.
📖 Full Retelling
🐦 Character Reactions (Tweets)
Oil & Gas GuruTotalEnergies acquiring 42.5% of Namibian offshore license? Sounds like they’re trying to corner the market on not just oil, but also adventure tourism: 'Come for the oil, stay for the stunning views of corporate greed!' 😏 #SynchronizeYourWallet
Resource ExpertTotalEnergies and Petrobras teaming up for Namibian oil? Finally, an international collaboration that’s not about saving the world, but about making it more... liquid. 🌊 #PetroleumPartners
Namibia's Energy CriticAh yes, TotalEnergies expanding in Namibia to tap the riches in the Lüderitz basin. Isn't it nice when companies 'invest' in places that lack regulations? It’s like a treasure hunt, but without the pesky environmental concerns! 🗺️💰 #TreasureMeetsTragedy
Eco AdvocateTotalEnergies acquiring a chunk of Namibia’s offshore? Perfect! What could be better than exploring for oil in an area celebrated for its biodiversity? Time to mix business with our love for the planet! 🌍🤦♀️ #IronyIsAnUnderstatement
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🏷️ Themes
Energy, Acquisition, Exploration
📚 Related People & Topics
TotalEnergies
French multinational energy and petroleum company
TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and is one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refin...
Namibia
Country in Southern Africa
Namibia, officially the Republic of Namibia, is a country in Southern Africa. It borders the Atlantic Ocean to the west, Angola and Zambia to the north, Botswana to the east and South Africa to the south; in the northeast, approximating a quadripoint, Zimbabwe lies less than 200 metres (660 feet) aw...
Petrobras
Brazilian majority state-owned oil and gas corporation
Petróleo Brasileiro S.A., better known by and trading as the portmanteau Petrobras (Portuguese pronunciation: [ˌpɛtɾoˈbɾas, pet-]), is a Brazilian majority state-owned multinational corporation in the petroleum industry, which is headquartered in Rio de Janeiro. The company's name translates to Braz...
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Connections for TotalEnergies:
- 🌐 Namibia (1 shared articles)
- 🏢 Petrobras (1 shared articles)
- 🌐 Texas (1 shared articles)
- 🏢 Google (1 shared articles)
- 👤 Solar Power (1 shared articles)
📄 Original Source Content
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Amazon stock slides 9% premarket as 2026 capex guidance blows past expectations Gold, silver prices log shaky gains after bruising week 3 reasons why Bitcoin is falling Amazon’s capex plans, Stellantis, Bitcoin’s fall - what’s moving markets (South Africa Philippines Nigeria) TotalEnergies acquires 42.5% stake in Namibian offshore license Company News Published 02/06/2026, 03:50 AM TotalEnergies acquires 42.5% stake in Namibian offshore license 0 TTEF 0.69% PARIS - TotalEnergies (NYSE:TTE) has signed agreements to acquire a 42.5% operated interest in the PEL104 exploration license offshore Namibia, the company announced in a press release. The French energy giant will become the operator of the license, partnering with Petrobras (42.5%), Namibia’s national oil company Namcor (10%), and Eight Offshore Investments Holdings (5%). Located in the Lüderitz basin, the PEL104 license covers approximately 11,000 square kilometers offshore Namibia. This acquisition follows TotalEnergies’ December purchase of a 40% operated interest in the PEL83 license in the same region. "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," said Nicolas Terraz, President of Exploration & Production at TotalEnergies. The transaction remains subject to customary approvals from Namibian authorities and joint venture partners. TotalEnergies has maintained a presence in Namibia since 1964 and currently employs 55 people in the country. The company also operates as the fourth-largest fuel distributor in Namibia with 43 service stations. This acquisition represents TotalEnergies’ continued investment in Namibia’s offshore exploration potential, as the company works to develop its recent discoveries in the region. This article was generated with the support of AI and reviewed by an editor. For more information see our T...