TotalEnergies and Galp agreed to launch an exploration and appraisal campaign including three wells over the next two years, with a first well planned in 2026, to further derisk resources and progress diligently toward the development of the Mopane discovery.<\/p>\n\n\n\n
Concurrently, TotalEnergies, operator of PEL56, remains fully committed to the development of the Venus discovery and is working to secure all conditions enabling a potential final investment decision in 2026.<\/p>\n\n\n\n
Completion of the transaction is subject to customary third party approvals from the Nambian authorities and joint ventures parties, with completion expected to occur in 2026.<\/p>\n\n\n\n After completion of the transaction, TotalEnergies will own:<\/p>\n\n\n\nWe are very happy to have been selected by Galp as their partner and operator for the prolific PEL83 license, including the Mopane discovery in Namibia. This is a strong recognition of the exploration and deepwater competences of TotalEnergies teams. This transaction demonstrates also the strong confidence of TotalEnergies towards Namibia as a future oil producing country. TotalEnergies will leverage its recognized operatorship track record to progress towards profitable and sustainable developments of both Venus and Mopane discoveries. 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,<\/q> said Patrick Pouyann\u00e9, Chairman and CEO of TotalEnergies.<\/strong>
We are eager to keep building on our collaboration with the Namibian authorities in order to deliver both developments<\/q>.<\/p>\n\n\n\n