TotalEnergies Takes Control of Namibia’s Largest Oil Discoveries

TotalEnergies has signed an agreement with Galp that formalizes its operatorship over Namibia’s two largest offshore oil discoveries, Mopane and Venus, through a strategic asset swap that consolidates development control in the hands of the French major. Under the transaction, TotalEnergies will acquire a 40 percent operated interest in PEL 83, the block containing the Mopane discovery that Galp previously announced earlier this year. In exchange, Galp will receive a 10 percent interest in PEL 56, home to ...