Namibia
Namibian government approves TotalEnergies’ acquisition of 40% operated interest in Galp's Mopane licence
The Namibian government approved TotalEnergies' agreement to acquire a 40% interest and operatorship of Galp's PEL83 licence, which holds the giant Mopane discovery, resolving an approval process that had been held up at the highest levels of government and constituted the primary outstanding condition for the wider transaction. Under the linked arrangement, Galp acquires a 10% participating interest in PEL56, which holds the Venus discovery, with TotalEnergies covering 50% of Galp's exploration and appraisal costs on Mopane. The approval clears a material obstacle to TotalEnergies' anticipated final investment decision on Venus, which had been widely assumed to be premised on completion of the farm-in/farm-out. With operatorship of both of Namibia's largest discoveries now consolidated under a single major, the Orange Basin moves decisively from exploration play toward development programme — the most significant milestone yet in Namibia's emergence as a producing jurisdiction.
