[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 5 sources · 3 days · First seen · Last updated

TotalEnergies oil operations in Namibia

Overview

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

The ownership structure of PEL 83 is now divided between TotalEnergies (40% operator), Galp (40%), the National Petroleum Corporation of Namibia (Namcor) (10%), and Custos Energy (10%). As part of the transaction, Galp received interests in PEL 56 and PEL 91.

TotalEnergies intends to begin a three-well appraisal campaign at the Mopane site in 2026. The company is working toward a final investment decision by 2028, with the objective of achieving first oil by 2032.

Entities

TotalEnergies · Galp · Northern Integrated Development Agency · Namibian National Petroleum Corporation · Jacinto Loureiro

Timeline

  1. 6 days ago

    [BUSINESS] 2 sources
    TotalEnergies commits $10M to Cabo Delgado employment programs

    TotalEnergies is investing $10 million in Mozambique's Cabo Delgado province to fund employment and economic development programs in agriculture, fisheries, and infrastructure.

  2. 9 days ago

    [BUSINESS] 3 sources
    TotalEnergies acquires operator interest in Namibia’s Mopane oil discovery

    TotalEnergies has acquired a 40% operating interest in Namibia’s PEL 83, gaining control of the Mopane oil discovery, estimated at 1.3 billion barrels of oil equivalent.

Sources

360mozambique.com · africanminingmarket.com · offshoresource.com · rn.co.mz · stocktitan.net