Petroleo Brasileiro SA (Petrobras) has acquired a stake in Namibia’s offshore oil.
In a securities filing on Friday, the Brazilian company announced it had purchased a 42.5% stake in oil block 2613 in the Lüderitz Basin, in partnership with TotalEnergies.
“This acquisition marks Petrobras’ return to Namibia and is aligned with the company’s long-term strategy, focused on portfolio diversification and the replenishment of oil and gas reserves through exploration of new frontiers and the strengthening of strategic partnerships,” the company said.
Petrobras now holds a 42.5% stake in the block.
TotalEnergies also acquired 42.5% and will act as the operator of the block.
The block was previously held by Eight Offshore Investment Holdings and Maravilla Oil & Gas.
Going forward, the National Petroleum Corporation of Namibia will hold 10% and Eight Offshore Investment Holdings will hold the remaining 5%.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
