Namibia Challenges TotalEnergies–Petrobras PEL 104 Deal Over Lack of Notice

Overview

• Namibia’s energy ministry said it was not notified as required by law about the reported transfer of stakes in offshore license PEL 104 and learned of the press release only minutes before publication.
• The ministry stated it does not recognize the transaction at this stage and has referred questions to the Presidency for clarification.
• TotalEnergies said it respects local laws and processes and that any closing remains subject to Namibian approvals, including prior ministerial consent.
• Petrobras reiterated on Monday that its planned 42.5% acquisition depends on applicable government and regulatory approvals, describing the asset as block 2613 in the Lüderitz basin covering about 11,000 km².
• Company announcements outlined a consortium of TotalEnergies 42.5% as operator, Petrobras 42.5%, Namcor 10%, and Eight 5%, with completion unresolved pending official review.