TotalEnergies completes entry into giant Mopane discovery offshore Namibia

TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s PEL83 license from Galp, taking operatorship of the giant Mopane oil discovery in the Orange basin ahead of a planned appraisal drilling campaign.

Following completion of the transaction, TotalEnergies holds a 40% interest in PEL83 alongside Galp with 40%, Namcor with 10% and Custos with 10%.

TotalEnergies plans to begin a three-well appraisal campaign at Mopane in the second half of 2026 as it works toward a potential final investment decision (FID) in 2028.

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

The transaction, originally agreed with Galp in December 2025, also gives Galp a 10% participating interest in TotalEnergies-operated PEL56, which contains the Venus discovery, and a 9.39% interest in PEL91.

Following the deal, TotalEnergies holds a 35.25% operated interest in PEL56 alongside QatarEnergy, Galp, Namcor and Impact. The company also holds a 33.09% operated interest in PEL91.

The transaction further consolidates TotalEnergies’ position in Namibia’s emerging Orange basin, where the company now operates acreage containing both the Mopane and Venus discoveries. TotalEnergies is also progressing its entry as operator of PEL104.

Source: WorldOil