September 04, 2026 [Storage Terminals Magazine]- TotalEnergies has completed a transaction with Galp that reshapes the companies’ interests in several offshore petroleum licences in Namibia’s Orange Basin.

The transaction, originally agreed in December 2025, sees TotalEnergies acquire a 40 percent operated interest in Petroleum Exploration Licence (PEL) 83 from Galp. The licence contains the Mopane discovery.

As part of the deal, Galp has acquired a 10 percent participating interest in PEL 56, which contains the Venus discovery, as well as a 9.39 percent participating interest in PEL 91, from TotalEnergies.

Following completion, TotalEnergies holds a 40 percent operated interest in PEL 83, alongside Galp with 40 percent, Namibia’s National Petroleum Corporation (Namcor) with 10 percent and Custos with 10 percent.

In PEL 56, TotalEnergies holds a 35.25 percent operated interest, with QatarEnergy holding 35.25 percent, Galp 10 percent, Namcor 10 percent and Impact 9.5 percent.

TotalEnergies also holds a 33.09 percent operated interest in PEL 91. Its partners are QatarEnergy with 33.03 percent, Namcor with 15 percent, Impact with 9.5 percent and Galp with 9.39 percent.

TotalEnergies Chairman and CEO Patrick Pouyanné said the completion of the transaction marks an important step in the company’s plans for the Mopane discovery and its wider activities in Namibia.

The company plans to begin an appraisal programme for Mopane in the second half of 2026, with three appraisal wells planned. TotalEnergies is targeting a Final Investment Decision (FID) for the project in 2028.

The transaction also strengthens TotalEnergies’ position as operator of two of Namibia’s major offshore oil discoveries, Mopane and Venus, and expands its interests across the Orange Basin.