TotalEnergies secures operatorship of major oil discovery in Namibia

WINDHOEK, December 9, 2025 – TotalEnergies has signed a deal to acquire a 40% operated interest in Namibia’s PEL83 licence, which holds the Mopane discovery, the company announced on Tuesday.

Under the agreement with Galp, TotalEnergies becomes operator of both the Mopane and Venus discoveries, Namibia’s two largest oil finds. Galp will receive a 10% interest in the PEL56 licence containing the Venus find and a 9.39% interest in PEL91. TotalEnergies will fund 50% of Galp’s exploration and development costs in PEL83, to be repaid from Galp’s future cashflows.

The companies plan to drill three wells over the next two years, beginning in 2026, to support development plans for Mopane. A final investment decision for Venus is targeted for the same year.

“By enabling the creation of a producing hub in Namibia, we aim to achieve synergies that will create long-term value for both Namibia and the stakeholders,” TotalEnergies CEO Patrick Pouyanné said.

The agreement is subject to government and partner approvals, with completion expected in 2026.

TotalEnergies has operated in Namibia since 1964. The company is the country’s fourth-largest fuel distributor and operates 43 service stations. It is also pursuing local low-carbon energy opportunities as part of its multi-energy strategy.

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