Business Reporter
French energy major TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s PEL83 licence, which contains the giant Mopane oil discovery, strengthening its position in one of Africa’s most promising emerging oil provinces.
The transaction, initially announced in December 2025, was completed with Galp after receiving approval from the Namibian authorities. Under the deal, TotalEnergies acquired Galp’s 40% operated interest in PEL83, while Galp acquired a 10% participating interest in PEL56, which contains the Venus discovery, as well as a 9.39% interest in PEL91.
Following completion, the ownership structure of PEL83 is TotalEnergies 40%, Galp 40%, Namibia’s national oil company Namcor 10% and Custos 10%. TotalEnergies is now the operator of the licence and will lead the appraisal and development work on Mopane.
The move gives TotalEnergies operatorship of what the company describes as one of Namibia’s two largest oil discoveries. It also expands its strategic footprint in the Orange Basin, an offshore region that has attracted major international oil companies following a series of significant discoveries.
TotalEnergies chairman and chief executive Patrick Pouyanné said the company’s entry as operator of Mopane was a key milestone towards establishing a major production hub in Namibia.
The company plans to begin a three-well appraisal campaign at Mopane in the second half of 2026, with a final investment decision targeted for 2028, subject to the outcome of the appraisal programme.
The Mopane discovery is significant for Namibia as the country seeks to transform its emerging petroleum sector into a major contributor to economic growth, investment and government revenues.
TotalEnergies’ expanding portfolio also includes PEL56, where it holds a 35.25% operated interest alongside QatarEnergy, Galp, Namcor and Impact, and PEL91, where it holds a 33.09% operated interest.
PEL56 contains the Venus discovery, which was made in 2022 in Block 2913B offshore southern Namibia. The Venus-1X well encountered about 84 metres of net oil pay in a good-quality Lower Cretaceous reservoir.
TotalEnergies said the transaction with Galp strengthens its position in Namibia and creates opportunities to pursue further exploration around Mopane and its other offshore assets.
The company has been operating in Namibia since 1964 and employs about 70 people in the country. It is also the country’s third-largest fuel distributor, with 43 service stations.