TotalEnergies acquires operator interest in Namibia’s Mopane oil discovery

TotalEnergies Mopane oil discovery PEL 83 Namibia offshore oil exploration

TotalEnergies has finalized the acquisition of a 40% operating interest in Petroleum Exploration Licence 83 (PEL 83) in Namibia’s offshore Orange Basin. The transaction, involving the transfer of interest from Portuguese energy company Galp, grants TotalEnergies control over the Mopane oil discovery, which has an estimated resource of approximately 1.3 billion barrels of oil equivalent.

Following the deal, the ownership of PEL 83 is split between TotalEnergies (40% operator), Galp (40%), the National Petroleum Corporation of Namibia (Namcor) (10%), and Custos Energy (10%). As part of the broader agreement, Galp received interests in PEL 56 and PEL 91.

TotalEnergies plans to launch a three-well appraisal campaign at Mopane starting in 2026. The company is targeting a final investment decision by 2028, with the goal of achieving first oil by 2032.

Entities

Galp · Mopane · Namibian National Petroleum Corporation · Orange Basin · TotalEnergies

Sources

TotalEnergies Takes Operator Role at Mopane Discovery in Namibia's PEL83 - Offshore Source [offshoresource.com]

8 days ago

TotalEnergies acquires key interest in PEL 83 [africanminingmarket.com]

9 days ago

TotalEnergies becomes operator of Namibia's Mopane discoveries, estimated at about 1. 3 billion barrels equivalent [www.stocktitan.net]

9 days ago