Namibia has raised concerns that TotalEnergies and Petrobras acquired new offshore interests in the Lüderitz Basin without notifying the energy ministry or securing the required approvals.
This was disclosed in a statement by Namibia’s Ministry of Industries, Mines and Energy on Sunday, according to Reuters.
On Friday, French oil major TotalEnergies and Brazil’s Petrobras announced that they had each taken a 42.5 per cent stake in an offshore exploration licence in Namibia, as both companies seek to develop oil resources in one of the world’s remaining exploration frontiers.
The PEL104 licence stakes were purchased from Maravilla Oil and Gas and Eight Offshore Investments Holdings.
TotalEnergies and Petrobras have collaborated on oil assets in Brazil for over a decade.
The acquisition deepens TotalEnergies’ presence in Namibia, where it is targeting first oil production by the end of the decade.
The Ministry of Industries, Mines and Energy said it was not notified of the transaction as required by law and only learned of the planned announcement a few minutes before it was made public.
According to the statement, the Ministry said it was not informed of the developments as required by law and was only told of the planned announcement of the deal a few minutes before it was released.
“The government makes it clear that in accordance with the law, any transfer, assignment, or acquisition of participating interests in petroleum licenses in Namibia must obtain prior approval of the minister,” the statement said.
It remained unclear what the statement means for the transaction or whether the government will permit it to proceed. TotalEnergies and Petrobras did not immediately respond to requests for comment outside regular business hours.
Sunday’s statement comes as Namibia, a global exploration hotspot, pushes toward first oil production while rolling out sweeping regulatory changes in the energy sector.
