TotalEnergies has completed a transaction with Galp that gives the French energy major operatorship of Namibia’s PEL83 offshore license, which contains the giant Mopane oil discovery, as it prepares to resume appraisal drilling and targets a final investment decision (FID) in 2028.
Here is what you need to know:
Under the completed transaction, TotalEnergies holds a 40% operated interest in PEL83, alongside Galp with 40%, Namibia’s state-owned National Petroleum Corporation of Namibia (Namcor) with 10% and Custos with 10%.
The transaction also gives Galp a 10% participating interest in PEL56, which contains the Venus discovery, and a 9.39% interest in PEL91.
TotalEnergies said appraisal activities at Mopane are expected to resume in the second half of 2026 through a three-well campaign designed to further assess the discovery and support development planning.
The company is targeting an FID for the Mopane project in 2028.
“This transaction positions TotalEnergies as the operator of Namibia’s two largest oil discoveries and strengthens its position in the Orange Basin,” TotalEnergies Chairman and CEO Patrick Pouyanné said.
He added that exploration opportunities beyond Mopane were already being lined up, with the company planning to begin appraisal work in the second half of 2026.
The Mopane discovery is located in Namibia’s Orange Basin, an emerging offshore petroleum province that has attracted major international energy companies following a series of significant oil discoveries in recent years.
According to Sintana Energy, which has an indirect interest in Custos, the Mopane discoveries have an estimated 3C resource of about 1.3 billion barrels of oil equivalent.
TotalEnergies also operates the PEL56 license with a 35.25% interest and PEL91 with a 33.09% interest. The company is also progressing its entry as operator of the PEL104 license.
The expansion of TotalEnergies’ operated portfolio comes as Namibia seeks to develop its offshore petroleum resources and attract investment into its emerging oil and gas industry.
The Mopane appraisal campaign is expected to provide further information on the discovery’s resources, reservoir characteristics and potential development options before the company moves toward an investment decision.
TotalEnergies said the transaction marks a key step towards establishing a major production hub in Namibia.
