The transaction, finalized in early 2026, sees TotalEnergies trade a 10% interest in the PEL56 license and a 9.39% stake in PEL91 to Galp in exchange for control of the Mopane project. With this deal, the company solidifies its footprint in the Orange Basin, a region increasingly viewed as a cornerstone for future production. The shift places TotalEnergies at the helm of both the Mopane and Venus discoveries, the largest in Namibian waters.
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TotalEnergies Takes Control of Namibia’s Mopane Oil Discovery
TotalEnergies has officially assumed operatorship of the PEL83 license in Namibia, securing a 40% stake in the massive Mopane discovery. This move follows a strategic asset swap with Galp, effectively consolidating the French energy giant’s influence over the country’s two largest offshore oil finds.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, highlighted the move as a critical step toward creating a major production hub. The company plans to begin a three-well appraisal campaign for Mopane in the second half of 2026, targeting a Final Investment Decision by 2028. Beyond the immediate development, the firm is already evaluating additional exploration prospects across its expanded portfolio, which now includes interests in PEL56, PEL83, and PEL91.
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