(WO) – TotalEnergies has signed agreements to accumulate a 42.5% operated curiosity within the offshore PEL104 exploration license in Namibia, additional increasing its upstream footprint within the nation’s rising deepwater province.
Upon completion of the transaction, TotalEnergies will function the block with a 42.5% stake alongside Petrobras (42.5%), Namcor (10%) and Eight Offshore Investments (5%). The license covers roughly 11,000 sq km within the Lüderitz basin offshore southern Namibia.
The transfer provides to TotalEnergies’ rising presence in Namibia following its latest acquisition of an operated curiosity in PEL83 and ongoing appraisal and improvement planning throughout main discoveries within the Orange basin. The corporate is advancing work towards potential improvement of the Venus discovery whereas persevering with exploration and appraisal actions in adjoining licenses, together with Mopane.
TotalEnergies stated the brand new operatorship will enable it to use its deepwater exploration experience to guage further prospectivity within the Lüderitz basin as Namibia continues to draw international funding following a collection of serious offshore discoveries in recent times.
Completion of the PEL104 transaction stays topic to customary approvals from Namibian authorities and three way partnership companions.
