TotalEnergies takes over Mopane, gears up multi-well campaign in Namibia
TotalEnergies secured operatorship of the offshore PEL 83 license, which includes the big Mopane discovery, by acquiring a 40% working interest from Galp Energia. In return, Galp picks up smaller participations in PEL 56 and PEL 91, containing the Venus discovery and another deep-water prospect.
Under the agreement, TotalEnergies will carry half of Galp’s near-term exploration and appraisal expenses in PEL 83, including the first development phase, to be repaid through Galp’s share of future production cash flows. The partners plan to launch a three-well exploration/appraisal campaign over the next two years, with the first spud scheduled for 2026.
The transaction needs typical regulatory and JV-partner approvals and is expected to complete in 2026. Once finalized, TotalEnergies will hold 40% operator status in PEL 83 alongside Galp (40%), national oil company NAMCOR (10%) and junior partner Custos Energy (10%). In PEL 56 and PEL 91 the new share structure will give TotalEnergies 35.25% and 33.085% operated interests respectively.
