TotalEnergies has finalized the acquisition of a 40% operating interest in Petroleum Exploration Licence 83 (PEL 83), gaining control over the significant Mopane oil discovery in Namibia’s offshore Orange Basin. This transaction, agreed with Portuguese energy company Galp in December 2025, received approval from Namibian authorities and marks a strategic expansion for the French energy …
TotalEnergies has finalized the acquisition of a 40% operating interest in Petroleum Exploration Licence 83 (PEL 83), gaining control over the significant Mopane oil discovery in Namibia’s offshore Orange Basin. This transaction, agreed with Portuguese energy company Galp in December 2025, received approval from Namibian authorities and marks a strategic expansion for the French energy major.
Under the agreement, TotalEnergies acquired Galp’s 40% interest in PEL 83, while Galp obtained stakes in two licences operated by TotalEnergies. Post-transaction, both TotalEnergies and Galp hold 40% each in PEL 83, with the National Petroleum Corporation of Namibia (Namcor) and Custos Energy retaining 10% each.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, emphasized the importance of this acquisition: “TotalEnergies’ entry as operator of the giant Mopane discovery marks a key milestone in our journey to establish a major production hub in Namibia.” The company plans a three-well appraisal campaign at Mopane, targeting a final investment decision by 2028 to determine the development and production commitments.
In addition to the Mopane acquisition, Galp has received a 10% interest in PEL 56, home to the Venus discovery, and a 9.39% stake in PEL 91. TotalEnergies maintains a 35.25% operating interest in PEL 56 alongside QatarEnergy and other partners. In PEL 91, TotalEnergies holds a 33.09% operating interest.
This transaction positions TotalEnergies as the operator of Namibia’s two largest oil finds, Mopane and Venus, reinforcing its long-term commitment to the country. Operating in Namibia since 1964, the company employs around 70 local staff and manages 43 service stations, currently overseeing PEL 56, PEL 83, and PEL 91, while progressing its role as operator of PEL 104.
TotalEnergies’ strengthened presence in Namibia’s oil sector highlights its strategic focus on developing new energy resources and supporting local economic growth.
