TotalEnergies takes 40% operatorship of Namibia’s Mopane oil discovery with 2028 investment decision targeted
TotalEnergies has completed a transaction with Galp that gives it operatorship of the Mopane oil discovery offshore Namibia, strengthening its position in the country’s Orange Basin.
Under the agreement, TotalEnergies acquired a 40% operated interest in Petroleum Exploration Licence 83 (PEL83), which contains the Mopane discovery. Galp also retains a 40% interest, while state-owned Namcor and Custos each hold 10%.
In exchange, Galp acquired interests in PEL56, which contains TotalEnergies’ Venus discovery, and PEL91.
Appraisal work to begin
The transaction makes TotalEnergies operator of Namibia’s two largest oil discoveries and expands its role in the development of the Orange Basin.
TotalEnergies plans to begin appraisal activities around Mopane in the second half of 2026, with three appraisal wells planned before a final investment decision targeted for 2028.
The company said the work would help determine the development potential of Mopane and support plans for a larger offshore production hub.
TotalEnergies has operated in Namibia since 1964 and currently employs about 70 people in the country.
It also operates 43 service stations and is assessing opportunities in lower-carbon energy projects.
TotalEnergies has completed its transaction with Galp to become operator of Namibia’s PEL83 licence, which contains the Mopane oil discovery in the Orange Basin.
The transaction gives TotalEnergies a 40% operated interest in PEL83, with Galp retaining 40%, while Namibia’s national oil company Namcor and Custos each hold 10%.
In exchange, Galp acquired interests in PEL56, which contains TotalEnergies’ Venus discovery, and PEL91.
The deal gives TotalEnergies operatorship of Namibia’s two major oil discoveries, Venus and Mopane.
Appraisal programme planned
Mopane is estimated to contain between 800 million and 1.1 billion barrels of oil equivalent (boe) of recoverable resources, with further exploration potential identified in the surrounding licence area.
TotalEnergies plans to begin a three-well appraisal programme in the second half of 2026 to further assess the discovery and define its development potential.
The company is targeting a final investment decision in 2028, with the appraisal programme expected to provide additional information needed to determine the scale and configuration of a future development.
Strengthening Namibia’s oil sector
The transaction strengthens TotalEnergies’ position in Namibia as the country advances the development of its offshore oil resources.
TotalEnergies has operated in Namibia since 1964 and is also operator of PEL56, where it holds a 35.25% interest.
The company said the Mopane and Venus discoveries could support the development of a significant offshore production hub and contribute to the growth of Namibia’s emerging oil industry.
