No oil, just a courtesy call – Petrobras

Brazilian oil company Petrobras says it holds no current Namibian assets, following a courtesy visit to government officials about prospective investments and a pending offshore deal.

This is despite its representatives last week meeting with the Ministry of International Relations and Trade to discuss the company’s current investments in the country.

The ministry on 9 March posted on social media that it had received a courtesy call from the Petrobras leadership, led by the company’s joint ventures development manager Ricardo Logus.

“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 ministry says.

Petrobras, together with TotalEnergies, is the buyer in a high-profile transfer of a petroleum exploration licence (PEL) in the Lüderitz Basin.

The companies in February announced their intention to buy a 42.5% stake each in PEL 104 from Namibian businessman Knowledge Katti’s Eight Offshore Investments Holdings and Maravilla Oil & Gas.

The announcement has caused concern after the Ministry of Industries, Mines and Energy released a press statement saying it had not been informed of the deal in advance, as required by law.

Petrobras and TotalEnergies both released statements saying the transaction was still subject to regulatory approval.

Executive director of industries, mines and energy Ndiitah Nghipondoka-Robiati this week said the ministry’s mandate includes actively promoting investments.

“Petrobras has been a stakeholder in Namibia’s oil and gas sector for more than 15 years – since 2009 – and remains an important participant in the industry.

Engagement with the company falls well within the ministry’s responsibility to maintain dialogue with both existing stakeholders and prospective investors to strengthen investment relations and encourage continued participation in Namibia’s energy sector,” she said.

The Brazilian company, however, on Saturday told The Namibian it has no other assets or contracts in Namibia.

Petrobras was accompanied by Katti in his capacity as a stakeholder and local partner connected to the Petrobras delegation during the visit.

Nghipondoka-Robiati said it is common practice for local facilitators to accompany foreign delegations to provide local context.

“The presence of private individuals during such courtesy calls does not constitute an endorsement of their specific business interests by the state, nor does it influence the independent regulatory reviews conducted by the competent authorities,” she said.

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