Government Not Notified as Global Oil Giants Secure Stakes in Namibian Waters
By TUW
The Namibian government has expressed concern after learning that it was not formally informed about a major offshore exploration deal involving international energy companies TotalEnergies and Petrobras prior to its public announcement.
According to the Ministry of Industries, Mines and Energy, officials became aware of the transaction only minutes before it was made public, a situation the ministry says raises serious procedural and regulatory questions.
The deal, announced by Petrobras, involves the acquisition of a 42.5% stake in a Namibian offshore exploration block, with TotalEnergies also taking an equal 42.5% share. The interests were acquired from Eight Offshore Investments Holdings and Maravilla Oil & Gas under Petroleum Exploration Licence (PEL) 104.
Namibian law requires that any transfer or acquisition of interests in petroleum licences must receive prior written approval from the energy minister. The ministry stated that this process was not followed, stressing that government notification and approval are legal prerequisites for such transactions.
Authorities have indicated that the deal cannot be recognised as valid until all statutory requirements are fully complied with. The government maintains that regulatory oversight is essential to protect national interests, particularly as Namibia’s offshore sector continues to attract significant international attention following recent exploration discoveries.
Both TotalEnergies and Petrobras have acknowledged that the transaction remains subject to regulatory approval and have indicated that they will engage with Namibian authorities to ensure compliance with local laws.
The development underscores Namibia’s firm stance on governance and transparency in the energy sector as the country positions itself for a potential transition from exploration to future oil and gas production.
