Namibia’s government has said it was not notified of a planned acquisition by TotalEnergies and Brazil’s state-owned oil company Petrobras of stakes in an offshore exploration licence, raising questions over whether the transaction can proceed under the country’s petroleum laws.
In a statement issued on Sunday, Namibia’s Ministry of Industries, Mines and Energy said it only became aware of the deal minutes before it was publicly announced, despite legal requirements that any transfer or acquisition of interests in petroleum licences must receive prior ministerial approval.
The response followed an announcement by Petrobras confirming it had acquired a 42.5 percent stake in an offshore oil exploration block in Namibia, in partnership with TotalEnergies, which also took a 42.5 percent stake and will act as operator of the licence. The interests were acquired under Petroleum Exploration Licence 104 (PEL 104).
According to Petrobras, the stakes were purchased from Eight Offshore Investments Holdings and Maravilla Oil & Gas. Under the new ownership structure, Eight Offshore will retain a 5 percent interest, while Namibia’s national oil company, Namcor Exploration and Production, will hold 10 percent. Maravilla Oil & Gas is exiting the block entirely. The value of the transaction was not disclosed.
Petrobras described the acquisition as part of its long-term strategy and aligned with its 2026–2030 business plan, adding that the move marks the company’s return to Namibia as it seeks to expand exploration frontiers in Africa and replenish reserves.
However, the Namibian government’s statement stressed that the lack of prior notification and approval raises procedural concerns and casts uncertainty over the completion of the deal. The ministry said it is reviewing the matter in line with national legislation governing petroleum licence transfers.
The development adds to broader concerns among foreign investors operating in Namibia’s fast-growing energy sector, which has attracted major international players following a series of high-profile offshore discoveries in recent years. Authorities have repeatedly emphasised the need for strict compliance with local laws to safeguard national interests as exploration activity accelerates.
