TotalEnergies has completed its acquisition of a 40% operating interest in Petroleum Exploration Licence 83 (PEL 83), giving the French energy major control of the Mopane oil discovery offshore Namibia.
The transaction, agreed with Portuguese energy company Galp in December 2025, was completed after receiving approval from the Namibian authorities.
Under the agreement, TotalEnergies acquired the 40% interest in PEL 83 from Galp, while Galp received interests in two licences operated by TotalEnergies.
Following the transaction, TotalEnergies and Galp each hold 40% of PEL 83, while the National Petroleum Corporation of Namibia (Namcor) and Custos Energy each retain 10%.
TotalEnergies chairman and chief executive Patrick Pouyanné said the acquisition strengthens the company’s position in Namibia’s Orange Basin.
“TotalEnergies’ entry as operator of the giant Mopane discovery marks a key milestone in our journey to establish a major production hub in Namibia,” he said.
The company plans to conduct a three-well appraisal campaign at Mopane, targeting a final investment decision in 2028.
A final investment decision would determine whether the partners commit the capital required to develop the discovery and bring it into production.
The deal also gives Galp a 10% participating interest in PEL 56, which contains the Venus discovery, and a 9.39% interest in PEL 91.
TotalEnergies retains a 35.25% operating interest in PEL 56, alongside QatarEnergy with 35.25%, Galp and Namcor with 10% each, and Impact Oil and Gas with 9.5%.
In PEL 91, TotalEnergies holds a 33.09% operating interest, while QatarEnergy has 33.03%, Namcor 15%, Impact 9.5% and Galp 9.39%.
The transaction positions TotalEnergies as operator of the Mopane and Venus discoveries, which the company describes as Namibia’s two largest oil discoveries.
TotalEnergies, which has operated in Namibia since 1964, employs about 70 people locally and operates 43 service stations. It currently operates PEL 56, PEL 83 and PEL 91 and is working to complete its entry as operator of PEL 104.
