Namibia's energy ministry has raised objections after French oil major TotalEnergies and Brazil's Petrobras disclosed that each had acquired a 42.5% interest in an offshore exploration licence in the Luderitz Basin without formally notifying the ministry or receiving prior approval.
The two firms announced on Friday that they acquired their respective stakes in licence PEL104 from Maravilla Oil and Gas and Eight Offshore Investments Holdings. The deals expand both companies' footprint in one of the world's remaining exploration frontiers and mark a further extension of TotalEnergies' holdings in Namibia, where the company has expressed ambitions to be the first to achieve production by the end of the decade.
In a statement issued on Sunday, the Ministry of Industries, Mines and Energy said it had not been notified of the transfers as required by law and that it was only informed of the planned public announcement "a few minutes" before it was released.
"The government makes it clear that in accordance with the law, any transfer, assignment, or acquisition of participating interests in petroleum licenses in Namibia must obtain prior approval of the minister," the statement said.
The ministry did not elaborate on whether the absence of prior approval would prevent the transaction from proceeding or what administrative steps might follow. The statement leaves unresolved whether the acquisitions will be allowed to stand or be subject to remedial action under Namibian law.
Attempts to obtain immediate comment were not successful. TotalEnergies and Petrobras did not respond straightaway outside of regular business hours. Officials connected with the government office proposing the Upstream Petroleum Unit did not reply to requests for comment, nor did the Petroleum Commissioner, Maggy Shino.
The ministry's announcement arrives as Namibia positions itself as a high-interest destination for hydrocarbon exploration and simultaneously undertakes wide-ranging changes to its regulatory framework for the energy sector. Last week, the newly appointed energy minister, Modestus Amutse, introduced the Petroleum (Exploration and Production) Amendment Bill. The bill would establish an Upstream Petroleum Unit as a new regulatory authority located in the office of the president, and would remove the position of Petroleum Commissioner.
According to government descriptions, the proposed legislation seeks to modernize the sector's legal framework and strengthen governance. Among other measures, the bill expands conflict-of-interest provisions for staff and aims to enhance fiscal transparency. The measure was returned in December after criticism from opposition parties and has been subject to further scrutiny as it moves through the legislative process.
Sunday's statement does not outline next steps or timelines for government review of the PEL104 transactions, leaving the commercial and regulatory consequences uncertain. The lack of immediate responses from both energy majors and relevant government offices means that the practical implications for the licence ownership and any planned exploration activity remain unclear at this time.
Context for market participants
For industry observers and investors tracking activity in Namibia, the episode highlights friction between rapid commercial transactions and a national regulatory process that is itself in transition. The government has made clear that statutory approval is required for transfers of participating interests, but the statement provides no detail on whether retrospective approval will be permitted or what penalties, if any, could be applied.