Brazil's state-run oil firm Petrobras has acquired a 42.5% stake in Block 2613, offshore Namibia.
The transaction was carried out in partnership with TotalEnergies, which also acquired 42.5% and will act as the operator of the block.
The selling companies are Eight Offshore Investment Holdings and Maravilla Oil & Gas.
After the completion of the transaction, Eight will retain 5% of the block, while Maravilla will end its participation in the asset.
Thus, the consortium for Block 2613 will be composed of Petrobras (42.5%), TotalEnergies (42.5%), Eight (5%), and Namcor Exploration and Production - a state-owned company held by the Government of Namibia (10%).
The Block is located in the Lüderitz Basin and covers an area of around 11,000 km² offshore Namibia.
The acquisition marks Petrobras’ return to Namibia and is aligned with the company’s long-term strategy, focused on portfolio diversification and the replenishment of oil and gas reserves through exploration of new frontiers and the strengthening of strategic partnerships.
The completion of the transaction is subject to the fulfillment of conditions precedent, including applicable governmental and regulatory approvals, notably from the Namibian Ministry of Industry, Mines, and Energy.