Galp
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TotalEnergies Signs Deal with Galp to Become Operator of Namibia’s PEL 83 License, Including the Mopane Discovery
TotalEnergies and Galp have signed a strategic partnership reshaping Namibia’s offshore licences. TotalEnergies will acquire a 40 % operated interest in PEL 83 (Mopane discovery) and carry 50 % of Galp’s exploration and appraisal CAPEX, to be repaid from future cash flows. Galp will receive a 10 % participating interest in PEL 56 (Venus discovery) and 9.39 % in PEL 91. A two‑year program will drill three wells, aiming to de‑risk Mopane and achieve a final investment decision for Venus by 2026. The transaction, pending Namibian approvals, closes in 2026.
