Galp

“At Mopane, he said, Galp and TotalEnergies were continuing exploration and appraisal activities, while recent results from Petroleum Exploration Licence 85 had broadened understanding of the basin.”

“Galp subsequently made the Mopane discovery in PEL 83, while Rhino Resources added further excitement with discoveries including Capricornus and Volans.”

“The presentation highlighted recent oil discoveries in the Orange Basin, including Jonker and Graff by Shell, Venus by TotalEnergies, Mopane by Galp, Volans and Capricornus by Rhino Resources and Merlin-1X by Shell.”

“On 27 July, Galp confirmed that its deal with TotalEnergies had received all necessary governmental and regulatory approvals.”

“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.”