Brazil's Petrobras makes offer on major Namibia field

Brazil’s Petrobras bids for top stake in major Namibia field

WINDHOEK, July 29, 2024 – Brazil’s Petrobras has made a non-binding offer to buy an operating stake in Galp Energia’s huge Mopane field in Namibia, Reuters reported on Friday.

The report cited Petrobras exploration and production director Sylvia dos Anjos.

The deal would leave the Brazilian NOC at the helm of one of Namibia’s most promising oil and gas plays, which has an estimated 10 billion boe in reserves.

The Mopane field is in the 10,000-square-kilometre PEL-83 block, located in the prolific Orange Basin near Namibia’s border with South Africa. The block is currently operated by Galp (80%), working alongside Namibian NOC NAMCOR (10%) and local independent Custos Energy (10%).

In March, Galp successfully drilled its second well in the block.

“We are the best deepwater operators,” the report cited Anjos as saying. “If [Galp] don’t choose us, it’s their loss.”

Reuters has previously reported that Shell and ExxonMobil have both expressed an interest in taking a 40% stake in the Mopane field.

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