TotalEnergies Becomes Operator of a License in Namibia
TotalEnergies has announced that it has signed agreements to acquire a 42.5% operated interest in the PEL104 oil exploration license offshore Namibia from Eight Offshore Investments Holdings and Maravilla Oil & Gas.
Located in the Lüderitz Basin, this license covers an area of approximately 11,000 km². Completion of the transaction is subject to customary conditions, including approval from the Namibian authorities and joint venture partners.
Once the transaction is finalized, the French oil and gas company will become the operator of this license and will hold a 42.5% stake alongside Petrobras (42.5%), Namcor (10%), and Eight (5%).
"As we advance towards the development of the Venus and Mopane discoveries, we are pleased to expand our portfolio and continue exploring Namibia's vast resources," commented Nicolas Terraz, Chief Executive Officer of Exploration & Production.
TotalEnergies SE is one of the leading worldwide oil groups. Net sales break down by activity as follows:
- refining and chemistry (43.6%): refining of petroleum products (operated, at the end of 2024, 14 refineries throughout the world) and manufacture of basic chemistry (olefins, aromatics, polyethylene, fertilizer, etc.) and of specialty chemistry (rubber, resins, adhesives, etc.). The group is also operating in trading and sea transport of crude oil and oil products;
- petroleum products distribution (38.8%): at the end of 2024 operated 13,148 service stations worldwide;
- electricity generation (10.3%): from combined cycle gas plants and renewable energies;
- gas production, trading, transport and distribution (4.6%): primarily liquefied natural gas (39.8 million tons sold in 2024), natural gas, biogas, hydrogen, liquefied petroleum gas, etc.;
- hydrocarbon operating and production (2.6%): 2.4 million barrels of oil equivalent produced per day in 2024;
- other (0.1%).
Net sales are distributed geographically as follows: France (23%), Europe (41.5%), Africa (10.2%), North America (8.4%) and other (16.9%).
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