Namibia’s government has raised procedural concerns after revealing it was not informed in advance about a major offshore oil deal involving TotalEnergies and Brazil’s state-run energy company Petrobras, according to Business Insider Africa.
The Ministry of Industries, Mines and Energy said it only learned of the planned transaction minutes before it was officially announced, despite Namibian law requiring prior government approval for any transfer of interests in petroleum licences.
Petrobras confirmed it had acquired a 42.5% stake in Namibia’s offshore exploration licence PEL 104, in partnership with TotalEnergies, which also took a 42.5% stake and will operate the block. The interests were purchased from Eight Offshore Investments Holdings and Maravilla Oil & Gas, though the value of the transaction was not disclosed.
Under the arrangement, Eight Offshore Investments will retain a 5% stake, while Namibia’s state-owned Namcor Exploration and Production will hold 10%. Maravilla Oil & Gas is exiting the licence entirely.
Petrobras said the acquisition aligns with its 2026–2030 business plan and marks its return to Namibia as it seeks new exploration opportunities in Africa.
However, Namibian authorities stressed that any transfer of petroleum licence interests must receive prior ministerial approval, casting uncertainty over whether the deal will proceed and raising broader concerns for foreign investors in Namibia’s energy sector.
