The Namibian government has formally expressed concern following an announcement made by French multinational TotalEnergies and Brazil’s state-owned Petrobras regarding their acquisition of equity stakes in a major offshore oil block in the country. Authorities in Windhoek noted that they were informed of the transaction mere minutes before it was made public, despite national legislation requiring prior ministerial approval for such deals.
On Friday, TotalEnergies and Petrobras jointly revealed that they had each acquired a 42.5 percent interest in Petroleum Exploration License 104 (PEL 104), situated in the Orange Basin off Namibia’s southern coast. The shares were reportedly purchased from Maravilla Oil and Gas and Eight Offshore Investments Holdings. Namibia’s national oil company, Namcor, retains a participating interest in the license. However, the government’s statement emphasised that the transaction had not yet received the mandatory regulatory clearances and was still subject to compliance with domestic petroleum laws.
According to the Ministry of Mines and Energy, the government was not notified of the deal in advance, in contravention of the provisions set out in the Petroleum (Exploration and Production) Act. The ministry underscored that under existing legislation, any transfer or acquisition of petroleum license interests must receive prior ministerial approval. In an official release, the ministry stated its expectation that all companies operating within Namibia’s oil and gas sector observe the established legal and regulatory frameworks.
The development underscores Namibia’s growing prominence in the global energy landscape. The Orange Basin, particularly the Luderitz Sub Basin where PEL 104 is located, has emerged as a zone of intensified exploration activity following a series of hydrocarbon discoveries. TotalEnergies has significantly expanded its presence in the country over recent years, holding stakes in multiple exploration blocks including those in regions where substantial oil reserves have been confirmed.
The Orange Basin has drawn considerable attention from international stakeholders due to its geological similarities with major oil-producing regions in South America. However, Namibia has maintained a position that insists on ensuring regulatory sovereignty, local benefit and transparent sector governance amidst heightened interest from global actors.
The Namibian government’s measured response indicates an intent not to hinder foreign direct investment, but to reinforce the importance of respecting national laws and procedures designed to safeguard sovereign oversight and ensure equitable resource management. As African states continue to attract extractive sector investment, a critical balance is being navigated between fostering economic growth and securing long term national interest.
This latest episode invites broader questions around the governance of Africa’s natural resources and the importance of reshaping extractive narratives away from externally defined commercial imperatives towards a more people centred developmental framework. The situation also reflects the broader trend in which African countries are asserting more decisive roles in managing the terms and transparency of international resource engagements.
While the deal between TotalEnergies and Petrobras underscores Namibia’s appeal as a frontier for energy exploration, it also illuminates the necessity of procedural fidelity and mutual respect in partnerships that intersect with national development priorities. Regulatory compliance is not a mere bureaucratic formality but an essential safeguard for sovereign resource management.
As the transaction remains under regulatory review, the future course of this deal may serve as a precedent for how Namibia and potentially other African states expect foreign companies to operate within their jurisdictions. The Namibian case therefore presents a critical moment not only for the involved parties but for the wider African oil governance architecture that seeks to centre African agency, responsibility and transparency in natural resource development.
