TotalEnergies has agreed to buy a 42.5% operated interest in Namibia’s PEL104 offshore exploration licence from Eight Offshore Investments Holdings (Eight) and Maravilla Oil & Gas.
The acquisition will make TotalEnergies the operator of the PEL104 licence, which spans approximately 11,000km² in the Lüderitz basin.
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Following the completion of the transaction, which remains subject to regulatory approvals from Namibian authorities and joint venture partners, the ownership structure will comprise TotalEnergies (42.5%), Namcor (10%) and Eight (5%).
TotalEnergies exploration and production president Nicolas Terraz said: “After the acquisition in December of a 40% operated interest in PEL83 licence, TotalEnergies further strengthens its position in Namibia by entering this new exploration licence as operator.
“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.”
TotalEnergies has operated in Namibia since 1964 and currently employs 55 people there. The company is said to be the fourth-largest fuel distributor in Namibia with 43 service stations.
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By GlobalDataTotalEnergies is also seeking local opportunities for low-carbon energy projects as part of its broader multi-energy strategy.
Globally, TotalEnergies operates in approximately 120 countries, producing and marketing biofuels, biogas, electricity, low-carbon hydrogen, natural gas, oil and renewables. The company employs more than 100,000 people worldwide.
In January 2026, TotalEnergies and Mozambique announced the resumption of onshore and offshore operations at Mozambique LNG after the force majeure declared in 2021 was lifted by the liquefied natural gas consortium in November 2025.
