Namibia Raises Concern Over Unannounced Offshore Oil Deal. Windhoek, Namibia — Namibia’s Ministry of Industries, Mines and Energy has expressed disapproval over an offshore oil exploration deal involving TotalEnergies and Petrobras, stating that the government was not notified of the transaction as required by law.
According to regional officials, TotalEnergies and Petrobras announced on Friday that they had each acquired stakes in an exploration license for an offshore field within Namibia’s territorial waters.
This includes TotalEnergies taking a 42. 5% operated stake and Petrobras acquiring the same percentage, with the Namibian national oil company, Namcor, holding a 10% stake, as indicated in TotalEnergies’press release.
The ministry confirmed that it was not notified of the sale, emphasizing that any transfer of a license requires the prior approval of the minister.
The exploration license pertains to an area of approximately 11,000 km2 in the Luderitz Basin, an area that has seen a surge in interest in oil and gas exploration in recent years, partly due to significant discoveries offshore from Namibia. Sources close to the matter suggest that the Namibian government may have legal grounds to challenge the deal if proper notification was not given.
The situation raises questions about the transparency and regulatory compliance of the deal, especially considering the significant stakes involved.
Further details regarding the government’s response and the next steps in this matter are expected to be released in the coming days.
*Additional reporting by ImNews | Sources consulted: 5*
