TotalEnergies (TTE) said Friday that it signed agreements to acquire a 42.5% stake in the PEL104 exploration license offshore Namibia from Maravilla Oil & Gas and Eight Offshore Investments Holdings.

No financial details were disclosed.

TotalEnergies said it will become the license operator following the transaction's completion. Petrobras (PBR) also holds a 42.5% stake in the license, while Namcor owns 10% and Eight Offshore owns 5% of the project, the company added.