We’re expanding our exploration portfolio as operator of PEL104 License – TotalEnergies
By Christie U. Omonigho
Energy Window International (Media) – TotalEnergies has signed agreements to acquire a 42.5% operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings (“Eight”) and Maravilla Oil & Gas, TotalEnergies has told Energy Window International (Media) in an email statement.
Adding that the company, upon completion of the transaction, becomes the operator of the license, holding a 42.5% interest alongside Petrobras (42.5%), Namcor (10%) and Eight (5%).
Located in the Lüderitz basin, PEL104 license covers an area of around 11,000 km2 offshore Namibia, the company said.
Nicolas Terraz, President Exploration & Production said: “After the acquisition in December of a 40% operated interest in PEL83 License,TotalEnergies further strengthens its position in Namibia by entering this new exploration license 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”.
However the completion of this transaction, TotalEnergies said, is subject to customary third party approvals from the Namibian authorities and joint ventures partners.
TotalEnergies said it started operation in Namibia in 1964, employing 55 people, and occupying the 4th largest fuel distribution position in the country, with 43 service stations.