TotalEnergies has completed its transaction with Galp, agreed in December 2025, involving interests in three Namibian exploration licences.

 TotalEnergies acquired a 40 per cent operated stake in PEL83, home to the Mopane discovery, from Galp.

 In return, Galp acquired a 10 per cent interest in PEL56, which contains the Venus discovery, and a 9.39 per cent interest in PEL91.

Following the transaction, TotalEnergies holds a 40 per cent operated interest in PEL83, a 35.25 per cent operated stake in PEL56 and a 33.09 per cent operated interest in PEL91.

The agreements reshape ownership across the licences while maintaining partnerships with QatarEnergy, Galp, Namcor, Impact and Custos.

“We would like to thank the Namibian authorities for their swift approval of this strategic transaction with Galp, our new partner in Namibia. TotalEnergies' entry as operator of the giant Mopane discovery marks a key milestone in our journey to establish a major production hub in Namibia”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “This transaction positions TotalEnergies as the operator of Namibia's two largest oil discoveries and strengthens its position in the Orange Basin, supporting the long-term value creation from prolific licenses. Exploration opportunities are already lining up beyond the Mopane development, which we will start appraising as early as the second half of 2026 aiming at taking the FID of the project in 2028, after a 3 appraisal well campaign”. -OGN/TradeArabia News Service