Namibia approves TotalEnergies’ Mopane acquisition, strengthens offshore oil ambitions
THE Ministry of Industries, Mines and Energy has approved TotalEnergies’ acquisition of a 40% interest and operatorship of Galp Energia’s giant Mopane oil discovery in the Orange Basin, paving the way for the French energy company to expand its offshore presence while advancing plans for a final investment decision on the Venus development. The approval ... The post Namibia approves TotalEnergies’ Mopane acquisition, strengthens offshore oil ambitions appeared first on Informanté .
THE Ministry of Industries, Mines and Energy has approved TotalEnergies’ acquisition of a 40% interest and operatorship of Galp Energia’s giant Mopane oil discovery in the Orange Basin, paving the way for the French energy company to expand its offshore presence while advancing plans for a final investment decision on the Venus development.
The approval allows TotalEnergies to assume operatorship of the highly prospective Mopane discovery from Portugal’s Galp Energia. In return, Galp will acquire a 10% stake in TotalEnergies’ Venus project, one of Namibia’s largest offshore oil discoveries.
The transaction marks another milestone for Namibia’s rapidly expanding offshore petroleum sector, where a series of major discoveries have attracted significant international investment and positioned the country among the world’s most promising new oil frontiers.
TotalEnergies already leads the development of the Venus discovery and, through the Mopane acquisition, will further strengthen its strategic footprint in the Orange Basin.
