TotalEnergies secures operatorship of Namibia’s Mopane discovery in deal with Galp

December 09, 2025

TotalEnergies has signed an agreement with Galp Energia to acquire operatorship of the Mopane oil discovery offshore Namibia, expanding its footprint in one of the world’s most active deepwater exploration frontiers.

Under the transaction, announced Dec. 9, TotalEnergies will acquire a 40% operated interest in petroleum exploration license (PEL) 83, which includes the Mopane discovery. In exchange, Galp will receive a 10% participating interest in PEL 56, home to TotalEnergies’ Venus discovery, along with a 9.39% interest in PEL 91.

The agreement positions TotalEnergies as operator of Namibia’s two largest offshore oil discoveries—Mopane and Venus—and supports plans to develop a major offshore production hub along the country’s Orange Basin.

As part of the deal, TotalEnergies will carry 50% of Galp’s capital expenditures for exploration, appraisal and the initial development phase at Mopane. The carry will be repaid through 50% of Galp’s future cash flows from the project.

TotalEnergies and Galp plan to launch a new exploration and appraisal campaign at Mopane that includes three wells over the next two years, with the first well scheduled for drilling in 2026. The program is intended to further de-risk resources and advance development planning.

Separately, TotalEnergies said it remains fully committed to progressing the Venus discovery in PEL 56 and is working toward securing the conditions needed for a potential final investment decision in 2026.

Following completion of the transaction, TotalEnergies will hold a 40% operated interest in PEL 83 alongside Galp (40%), Namibia’s national oil company Namcor (10%) and Custos Energy (10%). In PEL 56, TotalEnergies will retain a 35.25% operated interest alongside QatarEnergy (35.25%), Galp (10%), Namcor (10%) and Impact Oil & Gas (9.5%). TotalEnergies will also hold a 33.085% operated interest in PEL 91.

The transaction remains subject to customary approvals from Namibian authorities and joint venture partners, with completion expected in 2026.

Namibia’s offshore Orange basin has emerged as a global exploration hotspot following a series of major discoveries over the past several years, drawing increased interest from international oil companies seeking long-term deepwater growth opportunities.