Galp Considers Further N$13 Billion Investment as Mopane Oil Project Advances
Galp Energia is considering an additional N$13 billion investment in Namibia as it advances exploration and appraisal work on the Mopane oil discovery in the Orange Basin, with a potential final investment decision targeted for 2028.
The proposed investment would come on top of approximately N$12 billion Galp has already invested in Namibia over the past 20 years.
If approved, the additional spending would take Galp’s cumulative investment in the country to about N$25 billion before development and first oil.
Galp Upstream Senior Vice-President Adriano Bastos said the additional funding would support further exploration and appraisal activities aimed at reducing the technical and commercial risks associated with the Mopane discoveries.
The company holds a 40% interest in Petroleum Exploration Licence 83 (PEL 83), where the Mopane discovery is located.
TotalEnergies is taking over operatorship of the licence and also holds a 40% interest, alongside NAMCOR and Custos, each with 10%.
The partners plan to drill three additional wells from November 2026 to better establish the size and characteristics of the resource and determine the most suitable development concept.
Mopane has already emerged as one of Namibia’s most significant offshore oil discoveries.
Galp’s exploration campaign has identified light oil and condensate in high-quality reservoirs, while the company has subsequently upgraded the estimated 3C contingent resources at Mopane to approximately 1.38 billion barrels of oil equivalent, a 57% increase from the previous estimate.
The additional drilling will be critical to converting the resource potential into a commercially viable development. Bastos said more data is required before the partners can determine the scale and configuration of a future project.
The development of Mopane is also part of a broader expansion of Namibia’s emerging offshore oil industry.
The country has attracted significant international interest following major discoveries in the Orange Basin, with companies pursuing large-scale exploration and potential production projects.
For Namibia, the potential development of Mopane could generate substantial investment, employment, local procurement and government revenues.
Bastos stressed the importance of creating a stable regulatory and investment environment, noting that projects of this scale can establish commercial relationships lasting several decades.
He also highlighted local content as a key opportunity, saying Namibia should use the development of its oil and gas sector to build local businesses, skills and industrial capacity.
With further drilling planned and a potential FID targeted for 2028, Galp and TotalEnergies are now focused on reducing uncertainty around Mopane and establishing whether the discovery can progress into one of Namibia’s major future offshore oil developments.
