TotalEnergies has signed an agreement with Galp to take over operatorship of Namibia’s offshore PEL 83 license, which hosts the Mopane oil discovery. Under the deal, the partners plan a defined exploration and appraisal program over the next two years, including drilling three wells. They expect to drill the first well in 2026 as they work to better define the resource and move Mopane closer to development.
Alongside this, TotalEnergies continues to advance the Venus discovery in the neighboring PEL 56 license, where it already acts as operator. The company is progressing technical, regulatory, and commercial work with the aim of reaching a potential final investment decision for Venus in 2026.
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said the company welcomes Galp’s decision to appoint it as operator of PEL 83. He said the role recognizes TotalEnergies’ experience in deepwater exploration and operations, as well as its long-term confidence in Namibia’s oil potential. He added that the company will apply its operatorship expertise to move both the Venus and Mopane projects forward in a responsible and commercially sound way, while delivering lasting benefits for Namibia and project partners.
The transaction remains subject to approvals from Namibian authorities and the relevant joint venture partners and is expected to close in 2026. Once completed, TotalEnergies will operate three offshore licenses in Namibia.
Under the PEL 83 license, TotalEnergies will take operatorship with a 40 percent interest, while Galp will also hold 40 percent. Namcor and Custos will each retain a 10 percent stake.
In the PEL 56 license, TotalEnergies will hold a 35.25 percent operated interest. QatarEnergy will match this share, while Galp and Namcor will each hold 10 percent, and Impact will keep a 9.5 percent interest.
For the PEL 91 license, TotalEnergies will operate with a 33.085 percent interest. QatarEnergy will hold 33.025 percent, Namcor 15 percent, Galp 9.39 percent, and Impact 9.5 percent.
TotalEnergies has operated in Namibia since 1964 and employs about 55 people in the country. It ranks as the fourth-largest fuel retailer nationwide, running 43 service stations. As part of its broader energy approach, the company is also exploring opportunities in low-carbon and renewable energy projects within Namibia.
source:themachinemaker.com
African Energy Council