TotalEnergies Expands Energy Hunt in Africa Drilling Hotspot

TotalEnergies SE expanded its footprint in Namibia, one of Africa’s most active oil exploration hotspots, by adding another offshore prospect.

The French oil giant agreed to buy a 42.5% operated stake in the country’s PEL 104 license from Eight Offshore Investments Holdings and Maravilla Oil & Gas, Total said in a statement. That follows its December acquisition of a 40% stake in Galp Energia SGPS’s Mopane oil and gas discovery. Brazil’s Petroleo Brasileiro SA also took a 42.5% stake.