Galp

“Galp and its partners advanced appraisal work on the Mopane complex, which is estimated to hold significant oil reserves.”

“French oil giant TotalEnergies has called Namibia its "new golden province," after announcing a deal with Galp to enter the Mopane field in addition to its operations in the Venus field.”

“Under the signed agreement with Galp Energia SGPS SA ("Galp"), TotalEnergies is to acquire from Galp a 40% operated interest in PEL83, which includes the Mopane discovery; whilst Galp is to acquire from TotalEnergies a 10% participating interest in PEL56, which includes the Venus discovery, and a 9.39% participating interest in PEL91.”

“Namibia has attracted heightened international attention since 2022 after a series of offshore discoveries in the Orange Basin, including Total Energies' Venus discovery and Galp's Mopane complex, which have positioned the country as a key emerging oil and gas frontier.”

“TotalEnergies will take over as operator of Petroleum Exploration License (PEL) 83, which hosts the Mopane oil discoveries, while Galp will acquire interests in PEL 56 and PEL 91, home to the giant Venus discovery.”

“According to the Namibian Presidency, the delegation briefed the President on the merger and partnership between Galp Energies and TotalEnergies, and sought her blessing.”

“Galp, the operator of the Mopane discovery, has yet to outline its strategy for managing associated gas.”

“In Block 2813A (PEL 83), Galp (80%, operator), Namcor (10%), and Custos Energy Ltd (10%) completed the Mopane-1A appraisal well in late November 2024.”

“The discoveries are in an area approximately 290km from Oranjemund, with three companies, TotalEnergies, Shell and the Portuguese firm Galp having recently announced major discoveries.”