Namibian businessman Katti confirms PEL104 sale to TotalEnergies and Petrobras pending Govt approval

Namibian businessman Knowledge Katti says an agreement to sell his company’s stake in petroleum exploration licence (PEL) 104 to international oil companies remains subject to government approval.

Katti was responding to a social media post by Desert FM, which interviewed the minister of industries, mines and energy about concerns that a small number of Namibian nationals are acquiring oil licences and selling them to multinational companies.

The Namibian reported last week that TotalEnergies and Petrobras had announced their intention to buy a stake in PEL104, despite the Ministry of Industries, Mines and Energy saying no written approval was granted as required by law.

“In the global energy industry, agreements are first concluded between companies, after which formal regulatory submissions are prepared and filed with the relevant authorities.

The public announcement clearly stated that the agreement is subject to government approval, reaffirming full respect for Namibia’s legal and regulatory framework,” Katti says in his comment.

PEL104 is owned by Eight Offshore and Maravilla Oil and Gas, which was founded by Katti.

“As industry participants, we remain committed to constructive engagement and alignment with the government to ensure transparency, regulatory compliance, and national benefit,” he says.

He adds that “developments such as these should inspire confidence.”

In response to The Namibian’s reporting last week, TotalEnergies and Petrobras have both clarified that completion of the transaction is subject to approval from Namibian authorities.

In the terms of the agreement, TotalEnergies will acquire a 42.5% stake in PEL104 and act as the operator of the licence.

Petrobras will also hold 42.5%, the National Petroleum Corporation of Namibia will hold 10%, and Eight Offshore will keep 5% of the licence.

PEL104 is one of several offshore oil exploration licences that Katti holds an interest in.

Through Sintana Energy, a Canadian company where he is a non-executive director and a major shareholder, he has an indirect interest in PEL83 where the Mopane discovery is located, and is negotiating for a stake in PEL37 off the coast of Walvis Bay.

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