TotalEnergies Completes Acquisition Of Galp Interests In Namibia Licenses

French multinational oil and gas company TotalEnergies has completed the acquisition of Galp’s 40% operated interest in Petroleum Exploration Licence (PEL) 83, which holds the Mopane discovery.

Meanwhile, Galp has acquired from TotalEnergies a 10% participating interest in PEL 56, which holds the Venus discovery, and a 9.39% participating interest in PEL 91.

Following the transactions, TotalEnergies now holds a 40% operated interest in PEL 83, alongside Galp (40%), Namcor (10%) and Custos (10%). In PEL 56, TotalEnergies holds a 35.25% operated interest alongside QatarEnergy (35.25%), Galp (10%), Namcor (10%) and Impact (9.5%).

In PEL 91, TotalEnergies holds a 33.09% operated interest alongside QatarEnergy (33.03%), Namcor (15%), Impact (9.5%) and Galp (9.39%).

Commenting on the transaction, TotalEnergies Chairman and CEO Patrick Pouyanné thanked the Namibian authorities for their swift approval of the strategic transaction with Galp.

“TotalEnergies’ entry as operator of the giant Mopane discovery marks a key milestone in our journey to establish a major production hub in Namibia,” he said.

“This transaction positions TotalEnergies as the operator of Namibia’s two largest oil discoveries and strengthens its position in the Orange Basin, supporting the long-term value creation from these prolific licences. Exploration opportunities are already lining up beyond the Mopane development, which we will start appraising as early as the second half of 2026, with the aim of taking the final investment decision (FID) on the project in 2028, following a three-appraisal-well campaign,” he added.

TotalEnergies has been present in Namibia since 1964 and employs around 70 people. The company is also the third-largest fuel distributor in the country, with 43 service stations.

In line with its multi-energy strategy, TotalEnergies is also exploring local opportunities to develop low-carbon projects in Namibia.

The company operates PEL 56, PEL 83 and PEL 91 and is progressing the completion of its entry as operator of PEL 104.