Staff Writer
TotalEnergies has expanded its presence in Namibia’s oil sector after reaching a major agreement with Galp Energia to take over operatorship of petroleum exploration license 83 (PEL 83), the block that hosts the Mopane discovery.
The transaction gives TotalEnergies a 40% operated stake in the licence, strengthening its role in Namibia’s fast-growing deepwater basin.
Under the deal announced this week, Galp will acquire a 10% interest in PEL 56, which includes the Venus discovery, and a 9.39% stake in PEL 91.
The agreement positions TotalEnergies as operator of both Venus and Mopane, the country’s two biggest oil discoveries, creating the foundation for a large future production hub.
TotalEnergies will finance 50% of Galp’s exploration, appraisal and early development costs for Mopane.
This carry will be repaid through half of Galp’s future project cash flows.
Both companies agreed to a new exploration and appraisal programme.
It includes three wells to be drilled over the next two years, starting in 2026, to better assess the size and commercial potential of Mopane.
TotalEnergies also reaffirmed its focus on advancing the Venus development. Preparations are underway to secure the conditions needed for a possible final investment decision in 2026.
TotalEnergies chairman and chief executive officer Patrick Pouyanné said the company was honoured to be selected by Galp as the operator of PEL 83. He called the move a sign of confidence in the company’s deepwater experience and Namibia’s potential as a future oil producer.
The agreement still requires approval from Namibian authorities and joint venture partners. Completion is expected in 2026.
Once the transaction is finalised, TotalEnergies’ stakes across Namibia’s key oil licences will be: PEL 83 – 40% (operator) with Galp (40%), Namcor (10%) and Custos (10%)
PEL 56 – 35.25% (operator) with QatarEnergy (35.25%), Galp (10%), Namcor (10%) and Impact (9.5%), PEL 91 – 33.085% (operator) with QatarEnergy (33.025%), Namcor (15%), Galp (9.39%) and Impact (9.5%)
