TotalEnergies concludes agreement with Galp in Namibia

10 Dec TotalEnergies concludes agreement with Galp in Namibia

Enters as operator in the prolific PEL 83 license, including the Mopane discovery
London, December 10, 2025, (Oilandgaspress) ––TotalEnergies and Galp agreed to launch an exploration and appraisal campaign including three wells over the next two years, with a first well planned in 2026, to further derisk resources and progress diligently toward the development of the Mopane discovery.

Concurrently, TotalEnergies, operator of PEL56, remains fully committed to the development of the Venus discovery and is working to secure all conditions enabling a potential final investment decision in 2026.

Completion of the transaction is subject to customary third party approvals from the Nambian authorities and joint ventures parties, with completion expected to occur in 2026.

After completion of the transaction, TotalEnergies will own:

a 40% operated interest in PEL83 alongside Galp (40%), Namcor (10%) and Custos (10%);
a 35.25% operated interest in PEL56 alongside QatarEnergy (35.25%), Galp (10%), Namcor (10%) and Impact (9.5%);
a 33.085% operated interest in PEL91 alongside QatarEnergy (33.025%), Namcor (15%), Galp (9.39%) and Impact (9.5%).

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