TotalEnergies Strengthens Namibian Presence with New Offshore Exploration Position

TotalEnergies Strengthens Namibian Presence with New Offshore Exploration Position

(IN BRIEF) TotalEnergies has agreed to acquire a 42.5 percent operated stake in Namibia’s offshore PEL104 exploration license from Eight Offshore Investments Holdings and Maravilla Oil & Gas, which will make it the operator alongside Petrobras, Namcor and Eight once the transaction closes. The license covers around 11,000 square kilometres in the Lüderitz Basin and follows TotalEnergies’ recent entry into the nearby PEL83 block, strengthening its position in Namibia as it advances the Venus and Mopane discoveries, with final completion dependent on regulatory and partner approvals.

(PRESS RELEASE) PARIS, 7-Feb-2026 — /EuropaWire/ — TotalEnergies has reached agreements to acquire a 42.5 percent operated stake in the PEL104 Exploration License offshore Namibia, marking a further expansion of its exploration footprint in the country. The transaction involves the purchase of interests from Eight Offshore Investments Holdings and Maravilla Oil & Gas, reinforcing TotalEnergies’ role as a leading operator in Namibia’s emerging offshore energy sector.

Once the deal is finalised, TotalEnergies will assume operatorship of PEL104 while holding a 42.5 percent participating interest. The remaining interests will be shared between Petrobras with an equal 42.5 percent stake, Namcor with 10 percent, and Eight with 5 percent. This ownership structure positions TotalEnergies alongside experienced partners with significant regional and technical expertise.

PEL104 is situated in the Lüderitz Basin, an area that has attracted growing industry attention due to its geological potential. The license spans approximately 11,000 square kilometres in deep offshore waters, offering a substantial exploration area for future seismic evaluation and potential drilling activities.

The entry into PEL104 builds on TotalEnergies’ recent acquisition of a 40 percent operated interest in the neighbouring PEL83 license, announced in December. Together, these positions strengthen the company’s strategic presence in Namibia’s offshore basins, where it is already progressing the development of the Venus and Mopane discoveries.

Nicolas Terraz, President Exploration & Production at TotalEnergies, said that the company is pleased to further expand its Namibian portfolio. He emphasised that the move reflects TotalEnergies’ confidence in the country’s resource potential and its commitment to responsible exploration that can generate long-term value for Namibia and its stakeholders.

TotalEnergies noted that the completion of the transaction remains subject to customary approvals from Namibian authorities and the relevant joint venture partners, in line with standard regulatory and commercial procedures for offshore licensing transactions.

About TotalEnergies in Namibia
TotalEnergies has been present in Namibia since 1964 and employs 55 people. TotalEnergies is also the 4th largest fuel distributor in the country, with 43 service stations. In line with its multi-energy strategy, the Company is looking for local opportunities to develop low carbon projects in the country.

About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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SOURCE: TotalEnergies