Petrobras return stumbles

The Ministry of Industries, Mines and Energy was not consulted in the recently announced return of Petrobras to Namibian oil exploration.

TotalEnergies and Petrobras announced on Friday, 6 February 2026, that they had each acquired a 42.5% interest in Block 2613, petroleum exploration license (PEL) 104, located off the coast of Namibia in the Lüderitz Basin. The remaining interests are held by Namcor (National Petroleum Corporation of Namibia) with 10%, and Eight Offshore Investments, which holds 5%.

However, the ministry says it is not aware of the deal.

“The Namibian government was not informed of these developments, as required by law. Indeed, the ministry was informed of the planned press release a few minutes before its release,” a media statement issued on Sunday (8 February 2026) said. It continued that, “in accordance with the law, any transfer, assignment or acquisition of participating interests in petroleum licences in Namibia must obtain prior approval from the minister.”

When asked for further clarification, senior spokesperson Anna Salkeus said the ministry was “not aware of any such agreement and is therefore not in a position to comment. Please direct all related enquiries to the Upstream Petroleum Unit at State House,” she said.

 

In March 2025, President Netumbo Nandi-Ndaitwah established the Upstream Petroleum Unit (UPU) directly under the Presidency to oversee the rapidly developing oil and gas sector. Led by Kornelia Shilunga and Carlo McLeod, this unit is tasked with modernising regulations, strengthening oversight, and maximising local benefits.

The presidency responded to queries and insisted that any transaction involving the transfer, assignment or acquisition of participating interests in a petroleum licence is subject to the provisions of the Petroleum (Exploration and Production) Act, 1991, as well as the applicable licence conditions.

“In terms of the law, such amendments to the petroleum licence require the written approval of the minister. Until a formal application has been submitted and the prescribed statutory process has been completed, no transaction can be recognised or considered valid. The role of the authorities, as regulator and custodian of Namibia’s natural resources, is to assess any such application in accordance with the law, licensing obligations and the national interest. Only after this process has been duly followed can a decision be made as to whether the transaction should be approved, conditionally approved or rejected. At this stage, the reported transaction cannot therefore be considered as concluded. The final determination rests with the competent authorities once all legal and regulatory requirements have been met,” the presidency’s response reads.

Petrobras is a Brazilian state-owned energy giant, founded in 1953. It previously operated in Namibia's Block 2714A from 2009, with a 50% stake (later adjusted to 30%) acquired from Chariot Oil & Gas. The partnership, including BP (45%), drilled the unsuccessful Kabeljou-1 in 2012, which yielded poor reservoir quality. Following the disappointing results, Petrobras reduced its involvement and later exited Namibian waters altogether.