TotalEnergies becomes operator of Namibia's Mopane discovery holding 1.3 billion barrels

TotalEnergies has completed a reciprocal deal with Galp to acquire a 40% operated stake in Namibia’s PEL83, home to the Mopane discovery, while Galp picks up 10% in PEL56 and 9.39% in PEL91, transforming the JV to include Namcor and Custos alongside Galp and QatarEnergy in various licenses. The new ownership structure places TotalEnergies as operator of PEL83 and strengthens its position in the Orange Basin, with Mopane identified as a major asset and a multi-well exploration and appraisal program planned for 2026 ahead of a potential FID in 2028 and first oil targeted for 2032. Sintana Energy notes its indirect 4.9% effective stake in PEL83 via Custos, reflecting a broader 1.3 billion barrel equivalent resource estimate for Mopane and signaling accelerated activity on the asset in the coming quarters. The licenses’ revised percentholdings also position TotalEnergies alongside QatarEnergy and other partners in PEL56 and PEL91, with exploration and development timelines still in progress as Namibian authorities approved the deal and completion proceeded in 2026. Multiple sources report the same deal details, underscoring a landmark expansion of TotalEnergies’ Namibian operations through PEL83 and related licenses, and highlighting the broader implications for regional production and investment. Sintana emphasizes the strategic value of Mopane for its shareholders and the potential downstream benefits from Namibia’s resource development as the project advances.