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An update from TotalEnergies SE ( (FR:TTE) ) is now available.
TotalEnergies has agreed to acquire a 42.5% operated interest in the offshore Namibian exploration license PEL104 from Eight Offshore Investments Holdings and Maravilla Oil & Gas, positioning itself as operator alongside Petrobras, Namcor and Eight in a roughly 11,000 km² block in the Lüderitz basin. The move, which follows its recent PEL83 acquisition and complements ongoing development of the Venus and Mopane discoveries, further consolidates the company’s strategic footprint in Namibia’s emerging deepwater hydrocarbons province, signaling a long-term commitment to unlocking additional resources that could benefit both the group’s upstream growth and the host country’s energy sector, subject to regulatory and partner approvals.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company active in about 120 countries, producing and marketing oil and biofuels, natural gas, biogas, low‑carbon hydrogen, renewables and electricity. Present in Namibia since 1964, it employs 55 people there, is the country’s fourth-largest fuel distributor with 43 service stations, and is pursuing local low‑carbon projects in line with its multi-energy strategy and sustainability-focused approach.
For a thorough assessment of TTE stock, go to TipRanks’ Stock Analysis page.