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Reconciliation?

TotalEnergies, Petrobras acquire interest in block offshore Namibia

TotalEnergies and Petrobras have acquired interests in an 11,000 sq km offshore exploration block in Namibia's Lüderitz basin.

Alex Procyk

Feb. 6, 2026

TotalEnergies

TotalEnergies licenses operated offshore Namibia

TotalEnergies and Petrobras have acquired interest in an exploration block offshore Namibia

TotalEnergies and Petrobras have acquired interest in an exploration block offshore Namibia.

TotalEnergies will become operator of Block 2613 through production exploration license (PEL) 104 with 42.5% interest, while Petrobras acquired a non-operate 42.5% interest. The 11,000-sq km license lies in Lüderitz basin.

The partnership agreement was struck with Eight Offshore Investments Holdings and Maravilla Oil & Gas.

After completion of the deal, which remains subject to approvals from the Namibian authorities and joint ventures partners, Eight will retain 5% of the block, while Maravilla will end its participation in the asset.

The consortium for Block 2613 will be comprised of TotalEnergies (42.5%, operator) Petrobras (42.5%), Eight (5%), and state-owned Namcor Exploration and Production (PTY) Ltd. (10%).

The acquisition follows TotalEnergies 40% acquisition of PEL 83 in Namibia’s Orange basin from Galp in December 2025 and an oil and gas exploration and appraisal campaign aimed at further derisking oil and gas resources and progressing toward development of the Mopane discovery offshore Namibia.

Petrobras said the deal would mark its return to Namibia.

One would wonder how something so important could so easily be messed up. But I remember when BMW bought Bentley their lawyers failed to secure the rights to the name with the purchase. Go figure.

@Fernan10 Looked up the definition of wheeling and its explanation seems to be centered around South Africa. So if Etana is not producing the power then their take would be say $.02 per kWh. (A guess). The reason I think this is wrong is because they are talking about the end of 2027. Otherwise why not do it right now? It appears they are betting on a come, their own production, Thanks for your input. Texas actually did this trading in like 2008. Became familiar with it because of some Power Factor correction installations.

@Fernan. Took this to mean trading and producing. Of the $.06 per kWh $.02 is for trading.

This agreement will see Etana deliver 220MW of renewable energy annually to Sibanye-Stillwater's mining operations starting in late 2027, utilizing wheeling electricity from Etana's solar and wind portfolio through South Africa's national grid. The deal is designed to

@ObsCure Hey, thanks for the response. Hope it is in addition to the 194mw wind farm we are building.

Just to add an obvious point, but worth acknowledging, ONHYM is now the Petrobras of Morocco.

TotalEnergies, Petrobras acquire interest in block offshore Namibia

TotalEnergies and Petrobras have acquired interests in an 11,000 sq km offshore exploration block in Namibia's Lüderitz basin.

Alex Procyk

Feb. 6, 2026

TotalEnergies

TotalEnergies licenses operated offshore Namibia

TotalEnergies and Petrobras have acquired interest in an exploration block offshore Namibia

TotalEnergies and Petrobras have acquired interest in an exploration block offshore Namibia.

TotalEnergies will become operator of Block 2613 through production exploration license (PEL) 104 with 42.5% interest, while Petrobras acquired a non-operate 42.5% interest. The 11,000-sq km license lies in Lüderitz basin.

The partnership agreement was struck with Eight Offshore Investments Holdings and Maravilla Oil & Gas.

After completion of the deal, which remains subject to approvals from the Namibian authorities and joint ventures partners, Eight will retain 5% of the block, while Maravilla will end its participation in the asset.

The consortium for Block 2613 will be comprised of TotalEnergies (42.5%, operator) Petrobras (42.5%), Eight (5%), and state-owned Namcor Exploration and Production (PTY) Ltd. (10%).

The acquisition follows TotalEnergies 40% acquisition of PEL 83 in Namibia’s Orange basin from Galp in December 2025 and an oil and gas exploration and appraisal campaign aimed at further derisking oil and gas resources and progressing toward development of the Mopane discovery offshore Namibia.

Petrobras said the deal would mark its return to Namibia.

It should imply per hour though. If not you could generate more power by peddling a bicycle with a car alternator. Thanks.

Chariots revenue from the 200mw. Reads to me like a full 200mw no efficiency derate.

200mw

$.06 per kWh

24 hours

30 days

100% efficiency

34% ownership

220000*.06*24*30*1*.34 =$3,231,360 per month. Assuming this is addition to the previous 194mw the total income per month is $1424000 bringing the two totals to $4.65 million per month. Looking good.

Good find SFT. He sees those in the distance from that course and it bugs him. On the way to Palm Springs there are bunch of them as well that he has decried. Being Master of the Universe he knows better…..not.

A federal court on Monday halted the last of five stop work orders issued by the Trump administration in December to block major offshore wind farms, giving the wind energy industry five legal wins in a row over the government.

Reagan appointee Royce Lamberth granted an injunction against the administration’s stop work order against Sunrise Wind, a project that would provide power to New York.

In recent weeks, courts have issued similar injunctions against stop work orders the administration issued to four other projects. Monday’s ruling means that all of the orders issued by the administration in December have been halted and all of the wind farms it aimed to block can keep building.

“With this decision, courts have now consistently rejected the government’s abrupt attempt to halt construction on these fully permitted projects,” said Hillary Bright, executive director of pro-wind group Turn Forward, in a written statement.

The injunction issued Monday is temporary and it does not necessarily mean the project will prevail in the underlying case – though it could be an indication that the judge finds its arguments persuasive.

In December, the Trump administration sought to block the five projects, arguing they posed a national security threat. It said that their turbines could interfere with radar signals – an argument wind supporters have argued was a pretext to block projects the administration simply does not like.

President Trump has voiced a longstanding hatred of wind power and has said repeatedly that he does not want to see new wind energy projects built during his tenure.

The Interior Department declined to comment on the injunction.

Sunrise Wind would provide enough power for as many as almost 600,000 homes, according to its website. It’s being constructed about 30 miles from Montauk Point on Long Island and could begin operating next year.

Has anyone heard from Ian? Hoping he is hanging in there.

Curious too, whatever became of Jimmy. Always enjoyed his erudite posts?

Actually, just read where Murphy increased their borrowing capability by $500 million. That 12000 bopd Vietnam well might eat that up however.

About Etana:

Etana Energy is a licensed energy trader actively supplying renewable electricity through the national and

municipal electricity grids to businesses across South Africa. A majority black-owned company, Etana provides

businesses with flexible, renewable energy solutions that are clean and simple - enabling deep

decarbonisation, forward price path certainty and significant cost savings. Etana has one hydroelectric project

in operation, nearly 300MW of wind and solar in construction, and a 500MW+ pipeline of shovel-ready grid-

connectable renewable energy projects, underpinned by secured payment guarantee facilities. With this,

Etana is fulfilling its mission of accelerating the deployment of new clean energy generation capacity to the

South African grid. For more information, visit https://etana.energy

Etana is owned by Chariot Generation and Trading (34% economic interest), H1 (36%), Norfund (20%) and

Standard Bank .

Chariot has an economic interest in Etana of 34%. Guess that means ownership. They have 800+ mw, operating , under construction or shovel ready. Using 6 cents for sales and trading per kWh, 50% efficiency, our part would be : $.06*.Sales/kwh* 50% efficiency*34% ownership *24 hours*30 days*800mw/1000watts/mw= $5.8752mm per month say by mid 27. Check my numbers please? When the cash runs out we will be a year away from income. This is way better than for just 194mw. If I remember correctly Surfit got us on the proper road for efficiencies. Thanks.

MOROCCO NEW COUNTRY ENTRY

During the first quarter, Murphy signed a Petroleum Agreement securing an operated position in Morocco’s Gharb Deep Offshore deepwater block which covers more than 4 million acres. Murphy holds a 75 percent working interest in the block, with the remaining 25 percent working interest held by the Office National des Hydrocarbures et des Mines (ONHYM). The Petroleum Agreement does not include any firm well commitments in the initial three-year exploration phase.

“We are excited about our entry into Morocco, which offers exposure to exploration in a frontier basin with attractive entry costs and competitive terms. This entry is consistent with our strategy of developing a diverse exploration portfolio that balances risk, material upside, and value,” said Hambly.

Also they just drilled an appraisal well off Vietnam. Out of one zone, tested 12000 BOPD.

In fairness to ENERGEAN, I was able to answer my own question. Murphy’s Ivory Coast’s 3 offshore wells are testing 3 separate prospect. Hence ENERGEAN, one prospect 1 well I guess that is the answer. Reading through Murphy’s information they really portray themselves as being on top of their game. We should be glad to be rubbing elbows with them. They seem to be very nimble and seriously aggressive in a positive way.

Should have given better info. 1700 miles south. Murphy has a market cap of $4 billion. Something close to 200m boepd. They are at all the Walmarts in the US.

The point here, they just drilled a dry hole south of us, offshore, but their campaign is for three wells. Energean by comparison was a one trick pony. Something sort of doesn’t add up to me. Maybe someone could elaborate.

January 19, 2026, 6:00 PM Eastern Standard Time

HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced results from the Civette exploration well in Block CI-502 offshore Côte d’Ivoire. The Civette-1X well reached a total depth of 13,950 feet (4,252 meters) and encountered non-commercial hydrocarbons across multiple intervals.

“A key outcome at Civette is that we confirmed the presence of hydrocarbons in this frontier play – a meaningful success in early-stage exploration. While Civette did not meet commercial thresholds, the well provided insights that strengthen our subsurface understanding for the potential of the basin and inform the remaining prospectivity on the CI-502 Block,” said Eric Hambly, President and Chief Executive Officer.

Been trying to resist adding to my holdings. Anxious for positive news. JT’s find on ONHYM was excellent. Funny if all goes well and the conspiracy theory actually is true. The only other idea I have, as mentioned, AP sees reserves like cash. Otherwise Loukos should have been drilled out.

My holdings for curiosity: 2.5mm @ a cost of $95189.67 w/ a loss of $38189.67. Would like to top off at 3 but trying to exercise some discipline. GLA