Brazilian energy company Petrobras has held discussions with Namibia’s Ministry of International Relations and Trade (MIRT) regarding its existing and potential investment opportunities in the country’s expanding energy sector.
Petrobras representatives met with International Relations and Trade Minister Selma Ashipala-Musavyi during a courtesy visit aimed at introducing the company and outlining its current and prospective interests in Namibia.
The delegation was led by Petrobras Joint Ventures Development Manager Ricardo Logus and included Knowledge Katti of Eight Offshore Investments Holdings.
According to the ministry, the engagement focused on presenting Petrobras’ activities and exploring areas of cooperation within Namibia’s energy industry.
“The meeting served as an introductory engagement to present Petrobras and explore matters related to the company’s current and prospective investments in Namibia. The discussion reaffirmed a mutual interest in strengthening cooperation in the country’s growing energy sector,” the ministry said.
The meeting comes amid developments surrounding Petroleum Exploration Licence 104 (PEL 104) offshore Namibia.
TotalEnergies and Petrobras recently acquired a 42.5% participating interest each in the licence, which was previously held by Eight Offshore Investments Holdings and Maravilla Oil & Gas.
However, the Namibian government said it was not formally notified of the transaction in advance, as required under existing legislation. The Ministry of Industries, Mines and Energy stated that it was only informed of the planned announcement shortly before it was made public.
Once the transaction is finalised, TotalEnergies is expected to act as operator of PEL 104, while Petrobras will hold a 42.5% stake. The National Petroleum Corporation of Namibia (NAMCOR) will retain 10%, and Eight Offshore Investments Holdings will maintain a 5% interest.
PEL 104 is located in the Lüderitz Basin and covers approximately 11,000 square kilometres.
The transaction expands TotalEnergies’ exploration portfolio in Namibia and marks Petrobras’ return to the country’s offshore oil and gas sector, which has attracted growing international interest following recent discoveries in the Orange Basin.
