# Petrobras Returns to Namibia With Stake in Offshore Exploration Block

*Entry into Block 2613, alongside TotalEnergies, strengthens geographic diversification and long-term reserve replacement strategy.*

- Published: 2026-02-06
- Section: Insights
- Tags: Africa, Block 2613, energy strategy, Namibia, offshore exploration, Oil and Gas, Petrobras, reserve replacement, TotalEnergies, upstream
- URL: https://brazilstockguide.com/insights/petrobras-namibia-offshore-block-2613/

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**By Brazil Stock Guide –** **Petrobras** (B3: PETR3; PETR4) said it has acquired a **42.5% stake in Block 2613**, an offshore exploration area located off the coast of the **Republic of Namibia**, marking the company’s return to the African nation after several years. The transaction was carried out in partnership with **TotalEnergies**, which also acquired 42.5% and will act as operator of the block.

Following the deal, the consortium for Block 2613 will be composed of Petrobras (42.5%), TotalEnergies (42.5%), Eight Offshore Investment Holdings (5%) and **Namcor Exploration and Production** (10%), the upstream arm of Namibia’s state oil company. Maravilla Oil & Gas has fully exited the asset.

Block 2613 is located in the **Lüderitz Basin** and covers an area of approximately **11,000 square kilometers** along Namibia’s Atlantic coast. The region has attracted growing attention from the global oil industry following a series of large discoveries in recent years, positioning offshore Namibia as one of the most promising new exploration frontiers worldwide.

For Petrobras, the acquisition aligns with its strategy of **portfolio diversification and oil and gas reserve replacement**, with a focus on frontier exploration areas and partnerships with major international operators. While the company has concentrated capital on high-return projects in Brazil—particularly in the pre-salt—management has signaled a selective push abroad to reduce geological concentration and expand long-term growth options.

Partnering with TotalEnergies allows Petrobras to limit financial and operational exposure in a high-risk exploration area while maintaining a significant equity position in a large block. The participation of Namcor in the consortium also strengthens institutional alignment with the Namibian government, a key factor for long-cycle upstream projects in Africa.

According to Petrobras, the transaction followed all internal corporate governance procedures and is **fully aligned with the company’s 2026–2030 Business Plan**. Completion remains subject to the fulfillment of customary conditions precedent, including **governmental and regulatory approvals**, notably from Namibia’s Ministry of Industry, Mines and Energy.

If finalized, the move places Petrobras back on the map of global exploration bets at a time when the industry is balancing capital discipline with the search for new reserves capable of sustaining production over the next decade.

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Source: Brazil Stock Guide, https://brazilstockguide.com/insights/petrobras-namibia-offshore-block-2613/