TotalEnergies has entered into an agreement with Galp to become the operator of the offshore PEL 83 licence in Namibia, which includes the Mopane oil discovery. As part of the agreement, the partners will undertake a structured exploration and appraisal programme over the next two years, comprising three wells, with the first scheduled to be drilled in 2026. The campaign aims to further assess the resource potential and advance the Mopane discovery toward development.
At the same time, TotalEnergies will continue to progress the development of the Venus discovery in the adjacent PEL 56 licence, where it already serves as operator. The company remains focused on meeting all technical, regulatory, and commercial milestones required to enable a potential final investment decision for Venus in 2026.
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said the company was pleased to be selected by Galp as operator for the PEL 83 licence. He noted that the appointment reflects confidence in TotalEnergies’ deepwater exploration and operational capabilities, as well as the company’s long-term belief in Namibia’s potential as a future oil-producing nation. He added that TotalEnergies intends to leverage its operatorship experience to advance both the Venus and Mopane projects in a manner that is commercially viable and environmentally responsible, while creating long-term value for Namibia and project stakeholders.
Following completion of the transaction, which remains subject to the necessary approvals from the Namibian authorities and the respective joint venture partners, and is expected to be finalised in 2026, TotalEnergies will hold operated interests across three offshore licences in Namibia.
In the PEL 83 licence, TotalEnergies will assume operatorship with a 40 percent participating interest, alongside Galp, which will also hold 40 percent. The remaining interests will be held by Namcor and Custos, each with a 10 percent stake.
Within the PEL 56 licence, TotalEnergies will hold a 35.25 percent operated interest. The partnership structure will include QatarEnergy with an equal 35.25 percent share, Galp and Namcor each holding 10 percent, and Impact retaining a 9.5 percent interest.
For the PEL 91 licence, TotalEnergies will hold a 33.085 percent operated interest. The remaining ownership will be shared between QatarEnergy with 33.025 percent, Namcor with 15 percent, Galp with 9.39 percent, and Impact with a 9.5 percent stake.
TotalEnergies has operated in Namibia since 1964 and employs approximately 55 people in the country. It is also the fourth-largest fuel retailer nationally, operating 43 service stations. In line with its multi-energy strategy, the company continues to explore opportunities to develop low-carbon and renewable energy projects locally.
TotalEnergies is a global integrated energy company producing and marketing oil and biofuels, natural gas and biogas, low-carbon hydrogen, renewables, and electricity. With more than 100,000 employees and operations in around 120 countries, the company places sustainability at the core of its strategy, projects, and operations, with a focus on delivering reliable, affordable, and cleaner energy.
