The Namibian Competition Commission has approved a transaction involving the exchange of participating interests in three petroleum exploration licences.
The transaction involves TotalEnergies EP Namibia BV and **Windhoek PEL 28 BV , and covers petroleum exploration licences 83, 56 and 91.
In a statement, the commission says it had approved the exchange after assessing its impact on competition in the petroleum exploration market.
“Although the transaction involves a horizontal overlap, the commission found it results in only a marginal change in market share and does not materially affect competition,” director of mergers and acquisitions Johannes Ashipala says.
The regulator says the market remains competitive, and no public interest concerns were identified.
A horizontal overlap occurs when companies operating in the same market or industry acquire or exchange interests that could potentially affect competition.
The approval comes as Namibia’s emerging oil and gas sector continues to draw investment from international energy companies seeking to expand their presence in the country’s offshore basins.
