Overview
- Stake realignment spans PEL83, PEL56 and PEL91, giving TotalEnergies a 40% operated interest in Mopane while Galp receives 10% of Venus and 9.39% of PEL91.
- TotalEnergies will carry 50% of Galp’s exploration, appraisal and initial development costs on PEL83, with reimbursement from 50% of Galp’s future project cash flows.
- The partners agreed a three‑well exploration and appraisal program over two years, starting in 2026, to further define Mopane and progress development plans.
- TotalEnergies aims to secure conditions for a potential 2026 final investment decision on Venus, with a development concept centered on a 160,000 bpd FPSO.
- Completion is targeted for 2026 pending Namibian and joint‑venture approvals, leaving Namcor, Custos, QatarEnergy and Impact as continuing partners across the licences.