Katti says PEL104 stake sale to TotalEnergies, Petrobras awaits approval

Government sign off, stands between a flashy oil deal and actual ownership shifts in Namibia’s offshore patch.

Katti defends the PEL104 deal process

• Knowledge Katti pushed back on chatter about flipping oil licences.
• Desert FM had aired concerns from the industry minister.
• Katti said the sale agreement still needs government approval.
• His comment stressed respect for Namibia’s legal framework.

Approval gap flagged by ministry

• TotalEnergies and Petrobras signaled plans to grab a PEL104 stake.
• The Ministry of Industries, Mines, and Energy said no written clearance was issued.
• The Namibian had reported that mismatch last week.
• Both companies later clarified that completion hinges on Namibian authorities.

Ownership breakdown of PEL104

• TotalEnergies is set to take 42.5% and run operations.
• Petrobras would hold another 42.5% slice.
• National Petroleum Corporation of Namibia would keep 10%.
• Eight Offshore would retain a 5% share.

Katti’s broader offshore interests

• PEL104 sits under Eight Offshore and Maravilla Oil and Gas.
• Maravilla Oil and Gas was founded by Katti.
• Sintana Energy lists Katti as non executive director.
• Through Sintana, he has indirect exposure to PEL83 and PEL37.