TotalEnergies Plans 2028 FID for Mopane Offshore Namibia, Eyes 350,000 bpd Hub with Venus
TotalEnergies is aiming for a final investment decision (FID) in 2028 on its Mopane oil development offshore Namibia, reinforcing its long-term deepwater growth strategy in the Orange Basin.
Speaking on the company’s Namibia portfolio, Deputy CFO Arnaud Le Foll said exploration and business development efforts in the Orange Basin have delivered material discoveries that underpin plans for a new multi-field deepwater production hub.
Resource Base Across PEL 56 and PEL 83
Across petroleum exploration licences PEL 56 and PEL 83, TotalEnergies has identified approximately 1.5 billion barrels of discovered resources.
The portfolio is anchored by the Venus and Mopane developments, with additional prospects currently advancing through maturation and appraisal.
The Mopane field, located in PEL 83, is estimated to contain between 800 million and 1.1 billion barrels of recoverable resources. Once developed, production is expected to exceed 200,000 barrels per day (bpd).
With a potential FID in 2028, Mopane is positioned as the second major pillar of TotalEnergies’ Namibia strategy and is expected to contribute significantly to group output beyond 2030.
Appraisal and Development Timeline
The company plans to undertake further exploration and appraisal drilling in 2026 and 2027, including step-out and extension wells.
These activities are designed to refine the development concept, confirm reservoir continuity, and define the scope of the first development phase.
Mopane is expected to benefit from operational and infrastructure synergies with the nearby Venus project in PEL 56, which is targeting FID by mid-2026 and first oil in 2030.
TotalEnergies intends to establish a sustainable multi-FPSO (floating production, storage and offloading) hub in Namibia, optimizing logistics, subsea tie-backs, and shared services across licences to capture economies of scale.
The sequential ramp-up of Venus and Mopane from 2030 is projected to deliver combined plateau production of approximately 350,000 bpd, with additional upside potential from future discoveries.
Asset Swap with Galp Energia
TotalEnergies is also progressing an asset swap agreement with Galp Energia related to its Orange Basin holdings.
The transaction, expected to close by mid-2026, will strengthen TotalEnergies’ operated position around its core discoveries.
Under the agreement, TotalEnergies will acquire a 40% operated interest in PEL 83, which hosts the Mopane discovery.
In exchange, Galp will receive a 10% interest in PEL 56 and a 9.39% stake in the adjacent PEL 91 exploration block, along with a carry covering part of its appraisal and early development expenditures.
The restructuring forms part of TotalEnergies’ broader strategy to consolidate its Namibian acreage into an integrated offshore hub supported by shared infrastructure and coordinated development planning.
Strategic Significance for Namibia
For Namibia, the Venus and Mopane projects represent foundational steps toward establishing a domestic oil industry and positioning the country as a significant new deepwater producer in the Atlantic margin.
With 1.5 billion barrels of discovered resources already identified and additional prospects under evaluation, TotalEnergies is advancing a long-term, infrastructure-led development model aimed at transforming the Orange Basin into a core production province beyond 2030.
