Eugenia Moche
The Independent Patriots for Change (IPC) has called on the government and state-owned Namcor to provide full transparency on Namibia’s offshore petroleum developments, following Galp’s announcement of its transaction with TotalEnergies.
On 27 July, Galp confirmed that its deal with TotalEnergies had received all necessary governmental and regulatory approvals.
The Namibian Competition Commission had already approved the transaction without conditions on 28 April. However, Galp noted that remaining joint-venture documentation still needed to be completed.
Once concluded, TotalEnergies will hold a 40% operating interest in Petroleum Exploration Licence (PEL) 83, which contains the Mopane discovery.
Galp will retain 40%, while also acquiring a 10% stake in PEL 56, home to the Venus discovery, and a 9.39% interest in PEL 91.
According to the announced structure, Namcor’s interests remain unchanged at 10% in PEL 56 and 15% in PEL 91.
Nonetheless, the IPC emphasised that Namcor’s financial obligations, development exposure, and revenue expectations must be clarified.
According to a statement released on Tuesday, IPC Shadow Minister of International Relations and Trade, Rodney Cloete, said that TotalEnergies had stated before that government and project partners were targeting a final investment decision (FID) on Venus by the end of July.
Yet, no public announcement had been made, with the company cautioning that more time might be required to conclude discussions.
Cloete highlighted constitutional and statutory provisions that vest Namibia’s natural resources in the State.
He said Article 100 of the Constitution affirms that resources in the continental shelf, territorial waters, and exclusive economic zone belong to the State unless otherwise lawfully owned.
Similarly, the Petroleum Act vests petroleum rights in the State, requiring that they be administered transparently and in the national interest.
Cloete further called on the Minister of Mines, Industries and Energy to provide Parliament and the public with a clear account of several key issues, including the date, legal basis, and conditions of ministerial approval for the transaction; confirmation that the public petroleum register will be updated; the final post-completion interests of all licence holders; and the consequences for Namcor’s equity, financing obligations, risk exposure, and expected revenue.
The party also pressed for details on statutory licence conditions and enforceable commitments regarding Namibian employment, training, procurement, enterprise participation, skills development, and technology transfer.
The party further requested the status of the environmental assessment and clearance process, safeguards to be imposed, decommissioning and funding arrangements, and applicable insurance or performance guarantees.
While acknowledging that geological and commercially sensitive information may require lawful protection, Cloete warned against using confidentiality to withhold information that is public by law or could responsibly be disclosed in redacted or aggregated form.
“Commercial confidentiality should not, however, be used to withhold information that is public by law,” Cloete said.
The party stressed that a final investment decision itself would not automatically guarantee broad prosperity.
“Namibia should welcome responsible investors while safeguarding transparency, accountability and a fair national return,” he said.
Cloete highlighted that the IPC would pursue these matters through Parliament, requesting approval conditions, public-benefit commitments, and implementation safeguards.
