Chamwe Kaira
Four sources have confirmed that TotalEnergies, Chevron and other oil majors are leading the race to buy a 40% stake in Galp Mopane in Namibia, Reuters reported this week.
Galp said it will announce the winning bidder and the estimated resources of Mopane by year-end.
Namibia has continued to attract international oil companies after several major finds since 2022.
The National Petroleum Corporation of Namibia (Namcor) says the discoveries point to Namibia’s potential to rank among the world’s top 15 oil producers by 2035, even though the country does not yet produce hydrocarbons.
TotalEnergies and Chevron declined to comment on the bidding process.
A Galp spokesperson also declined to name the bidders.
“Negotiations concerning Namibia are moving forward with a list of preferred bidders that strongly align with Mopane,” she said.
Total and Chevron already hold stakes in oil fields in the Orange Basin near Mopane.
Chevron’s early wells did not produce commercial hydrocarbons. Total said it plans to make a final decision on its Venus discovery in Namibia.
Galp Energia estimates that in-place hydrocarbons at Mopane could reach 10 billion barrels of oil equivalent or more.
If confirmed, Mopane would be one of the world’s largest offshore finds. Galp, working with Custos and Namcor, has completed Phase 1 of the Mopane drilling campaign after finishing the Mopane-1X well testing programme.
Mopane-1X, discovered in January, encountered light oil columns in good-quality reservoir sands at two different levels, AVO-1 and AVO-2. In March, the same rig drilled Mopane-2X, which found additional light oil across AVO-3, AVO-1 and a deeper target.
Mopane-2X confirmed that AVO-1 is in the same pressure regime as in Mopane-1X, located 8 km east, showing that the reservoir extends laterally.
Logs from the well confirmed good porosity, high pressure and strong permeability across large hydrocarbon columns. Fluid samples showed very low oil viscosity, low CO₂ and no hydrogen sulphide.
Well tests reached the maximum allowed flow rate of 14 000 barrels of oil equivalent per day.
Galp said its 10 billion-barrel estimate covers the Mopane complex only and does not include future appraisal or exploration volumes.
Galp will now analyse all drilling data and update its reservoir model. The results will guide further exploration, appraisals, and development plans for the wider Mopane area.
