Portugal’s Galp Energia has confirmed that offshore Namibia will be one of its key upstream priorities this year, with a three-well drilling and testing campaign planned for the Mopane discovery in the Orange Basin during 2026.
The update in the company’s first-quarter 2026 report shows Namibia remains central to Galp’s growth strategy as the company advances one of the country’s most closely watched offshore discoveries toward possible commercial development.
Galp said activity on Petroleum Exploration Licence 83 (PEL 83) will focus on drilling, coring, and well testing to refine resource estimates and understand reservoir performance across the Mopane complex.
The company also disclosed that total first-quarter capital expenditure reached €254 million, with €146 million directed to upstream operations, the division that includes Namibia and other exploration and production assets.
Preparations are underway for the campaign following the transformational farm-down agreement announced in late 2025, under which TotalEnergies will assume operatorship and acquire a 40% stake in the licence, subject to approvals. Galp will retain 40%, while NAMCOR and Custos Energy each hold 10%.
The transaction is strategically significant because it places one of the world’s largest deepwater developers in charge of Mopane, potentially accelerating technical planning and future development options.
Namibia’s importance in Galp’s portfolio is also reflected in the company’s classification of Mopane as one of its major near-term upstream value drivers.
Galp said first-quarter capital expenditure included continued investment in upstream growth opportunities, with Namibia among the priority assets receiving attention.
At the group level, the company reported adjusted EBITDA of €943 million and adjusted net income of €192 million for the quarter, underscoring the company’s financial capacity to continue funding major upstream opportunities, such as Namibia.
The Mopane discovery has become one of Namibia’s biggest offshore success stories, following earlier wells that encountered significant light oil columns.
