Namibia has approved TotalEnergies’ acquisition of operatorship of Galp Energia’s Mopane discovery in the Orange Basin, another milestone in the country’s emergence as one of the world’s most closely watched offshore oil frontiers.

The approval clears the way for TotalEnergies to take over the highly prospective Mopane complex from Portugal’s Galp Energia. As part of the deal, Galp will acquire a minority stake in TotalEnergies’ landmark Venus development, deepening collaboration between the two companies as exploration and development activity accelerates offshore Namibia.

For TotalEnergies, the acquisition expands its footprint in the Orange Basin, where it already leads development of the Venus discovery and will now also oversee the Mopane complex, reflecting growing international confidence in Namibia’s offshore petroleum sector following a string of significant discoveries in recent years.

Source: ocean-energyresources.com