Petrobras (PBR) secures 42.5% of offshore Namibia Block 2613 with TotalEnergies
Rhea-AI Filing Summary
Petróleo Brasileiro S.A. – Petrobras reports that it has agreed to acquire a 42.5% stake in offshore exploration Block 2613 in the Lüderitz Basin in the Republic of Namibia. TotalEnergies is also acquiring 42.5% and will operate the block.
After completion, the consortium will comprise Petrobras with 42.5%, TotalEnergies with 42.5%, Eight Offshore Investment Holdings with 5%, and Namcor Exploration and Production (PTY) Ltd, a Namibian state-owned company, with 10%. The block covers about 11,000 km².
Petrobras states that this deal marks its return to Namibia and aligns with its 2026–2030 Business Plan by diversifying its portfolio and seeking new oil and gas reserve frontiers through exploration and strategic partnerships. Closing remains subject to conditions precedent, including governmental and regulatory approvals in Namibia.
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Insights
Petrobras expands exploration footprint with a new Namibian offshore stake.
Petrobras is taking a 42.5% non-operating stake in Block 2613 offshore Namibia, alongside operator TotalEnergies with another 42.5%. The remaining interests go to Eight Offshore Investment Holdings and Namcor Exploration and Production (PTY) Ltd, a Namibian state entity.
The block spans about 11,000 km² in the Lüderitz Basin, framed as a “new frontier” for oil and gas reserves. Management links the move to the 2026–2030 Business Plan, emphasizing portfolio diversification and the replenishment of reserves through exploration and strategic partnerships, rather than short-term production gains.
The transaction has not yet closed and is subject to conditions precedent, including approvals from the Namibian Ministry of Industry, Mines, and Energy and other regulators. Actual operational activity and any reserves or production impact will depend on future exploration results and subsequent disclosures.