TotalEnergies and Petrobras have agreed to jointly develop a frontier offshore block located north of Namibia’s Orange Basin. The two companies previously competed to acquire stakes in Galp’s significant Mopane discovery but have now decided to collaborate on this new opportunity.
The partnership marks a strategic move for both firms as they expand their presence in the region, focusing on exploration activities in underexplored areas with potential hydrocarbon resources.
**Why this matters**
The collaboration between TotalEnergies and Petrobras highlights growing interest in Namibia’s offshore basins, which are considered promising for future oil and gas production. Working together allows the companies to share risks and resources in a challenging frontier environment, potentially accelerating exploration progress and contributing to the country’s energy development.
Source: NewsData