Namibia: TotalEnergies Expands its Exploration Portfolio as Operator of PEL104 License
TotalEnergies SE Ordinary Shares (TTE)
Company Research
Source: Business Wire
PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) 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.Upon completion of the transaction, TotalEnergies will be 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.“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”, stated Nico
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