Namibian businessman Knowledge Katti has confirmed that the proposed sale of his company’s stake in petroleum exploration licence (PEL) 104 to TotalEnergies and Petrobras remains subject to approval by the Namibian government.
Katti issued the clarification following public debate about the transaction and questions raised over regulatory consent.
Last week, The Namibian reported that TotalEnergies and Petrobras had announced plans to acquire stakes in PEL104. However, the Ministry of Industries, Mines and Energy stated that it had not granted written approval for the transaction, as required under Namibian law.
In response, Katti explained that companies in the global energy sector typically conclude commercial agreements before submitting formal applications to regulators.
“In the global energy industry, agreements are first concluded between companies. Thereafter, formal regulatory submissions are prepared and filed with the relevant authorities,” he said.
He added that the public announcement clearly indicated that the deal is subject to government approval. According to Katti, this demonstrates respect for Namibia’s legal and regulatory framework.
Proposed Ownership Structure
PEL104 is currently owned by Eight Offshore and Maravilla Oil and Gas, a company founded by Katti.
Under the terms of the proposed agreement:
- TotalEnergies will acquire a 42.5% stake and act as operator of the licence.
- Petrobras will hold 42.5%.
- The National Petroleum Corporation of Namibia (Namcor) will retain 10%.
- Eight Offshore will keep 5%.
Both TotalEnergies and Petrobras have since clarified that completion of the transaction depends on approval from Namibian authorities.
Industry Debate Over Licence Sales
The proposed deal has also fueled broader discussion about local participation in Namibia’s oil sector. Desert FM recently interviewed the minister of industries, mines and energy regarding concerns that a small number of Namibians acquire petroleum licences and later sell stakes to multinational companies.
Nevertheless, Katti defended the process and stressed alignment with national interests.
“As industry participants, we remain committed to constructive engagement with the government to ensure transparency, regulatory compliance and national benefit,” he said.
He further stated that developments such as the PEL104 transaction should strengthen investor confidence in Namibia’s growing oil industry.
Broader Offshore Interests
PEL104 forms part of several offshore exploration interests linked to Katti.
Through Sintana Energy, where he serves as a non-executive director and major shareholder, Katti holds an indirect interest in PEL83, which includes the Mopane discovery.
In addition, negotiations are ongoing for a stake in PEL37 off the coast of Walvis Bay.
Namibia has emerged as one of Africa’s most promising oil frontiers following recent offshore discoveries. As a result, global energy companies continue to expand their footprint in the country.
For now, the future of the PEL104 transaction rests on the government’s decision. Until regulators grant approval, the proposed sale remains pending.
