Namibia Ministry Says It Was Unaware of TotalEnergies’ Deal

Namibia’s energy ministry said the government wasn’t notified of the planned acquisition by TotalEnergies SE and Petroleo Brasileiro SA of stakes in an offshore exploration license in the southern African country.

TotalEnergies agreed to buy a 42.5% operated stake in the country’s PEL 104 license from Eight Offshore Investments Holdings and Maravilla Oil & Gas, the French oil giant said in a statement on Friday. Brazil’s Petrobras took a 42.5% stake, the company reported in its own announcement. State-owned Namcor will hold a 10% stake and Eight will retain 5% under the deal.