Here’s a bold statement: Namibia’s offshore energy landscape is about to shift dramatically, and TotalEnergies is at the heart of it. But here’s where it gets controversial—while some celebrate this expansion as a step toward energy security and economic growth, others question the environmental impact and long-term sustainability of such ventures. On February 6, 2026, TotalEnergies announced a significant move by acquiring a 42.5% operated interest in the PEL104 Exploration license off the coast of Namibia. This deal, struck with Eight Offshore Investments Holdings and Maravilla Oil & Gas, positions TotalEnergies as the operator of the license, alongside partners Petrobras (42.5%), Namcor (10%), and Eight (5%).
Spanning approximately 11,000 square kilometers in the Lüderitz basin, the PEL104 license adds to TotalEnergies’ growing portfolio in Namibia. Nicolas Terraz, President of Exploration & Production at TotalEnergies, highlighted the company’s commitment to the region, stating, ‘While advancing the development of the Venus and Mopane discoveries, we’re thrilled to expand our exploration efforts in Namibia’s resource-rich waters. This move not only strengthens our position but also promises to unlock value for the country and all stakeholders.’ And this is the part most people miss—TotalEnergies isn’t just drilling for oil; they’re also eyeing low-carbon projects as part of their multi-energy strategy, a move that could redefine their role in Namibia’s energy future.
But let’s dive deeper. TotalEnergies has been a fixture in Namibia since 1964, employing 55 people and operating as the country’s 4th largest fuel distributor with 43 service stations. Their expansion into exploration licenses like PEL104 and PEL83 (where they acquired a 40% operated interest in December 2025) underscores their ambition to tap into Namibia’s prolific offshore resources. Yet, this raises questions: How will these projects balance economic growth with environmental stewardship? And what does this mean for Namibia’s energy independence in the long run?
Here’s a thought-provoking question for you: As TotalEnergies doubles down on fossil fuel exploration while also pursuing low-carbon initiatives, is this a genuine step toward sustainability, or a strategic hedge against the energy transition? Share your thoughts in the comments—we’d love to hear your perspective.
Globally, TotalEnergies is a powerhouse in the integrated energy sector, producing and marketing a diverse range of energies, from oil and biofuels to renewables and low-carbon hydrogen. With over 100,000 employees across 120 countries, the company emphasizes sustainability in its strategy, projects, and operations. However, as they expand in regions like Namibia, the challenge will be to align these ambitions with local environmental and social priorities.
For more details, you can download the official press release here. Stay connected with TotalEnergies on social media—follow them on X (@TotalEnergies), LinkedIn, Facebook, and Instagram. And remember, while this expansion marks a significant milestone, the real conversation is just beginning. What do you think? Is TotalEnergies on the right track, or is there more to be done? Let us know in the comments below!
